what is the perfect competition economic profit?

Q: What makes a monopolistic competitive firm different from that of a monopoly? From an economic…

A: The monopoly market and monopolistic competitive market, both are the market structure, with some…

Q: What is a monopolistic firm? Explain briefly.

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: what is the similarities between perfect competition and monopoly?

A: Perfect competition and monopoly markets, both two different market structures. however, there are…

Q: All of the other answers are correct. the revenue effect the price effect the output effect Previous…

A: In a monopolistic competitive market, profit is maximized at a point where marginal revenue is equal…

Q: Why under monopolistic competition, a firm doesn't faces perfectly elastic demand curve.

A: # firstly we must understand the monopolistic market structure. In monopolistic market structure…

Q: Explain the difference between Monopolistic Competition and Perfect Competition? ( through…

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Q: Describe in words at which price and quantity firms in monopolistic competition maximize profits or…

A: Monopolistic competition is an imperfect competition where there is a large number of sellers…

Q: Raphael's hair salon is a monopoly in a small town and is currently earning an economic profit.…

A: Monopolistic competition refers to the market structure in which there are many sellers for a…

Q: Explain and show using a graph how the long run outcome in monopolistic competition differs from…

A: A monopoly is a market-structure that consists of only one seller and many buyers. Monopolistic…

Q: Suppose that, due to a successful advertising campaign, a monopolistic competitor experiences an…

A: In monopolistic competition markets, there are a large number of firms competing with each other in…

Q: A pure monopolistic firm knows the following about its costs and revenue. The firm would like to…

A:

Q: do you think monopolistic profit is a social cost? explain

A: Monopoly refers to the market structure where there are a single seller and many buyers. Given that…

Q: What is monopolistic competition? 30 words

A: The structure of markets where differentiation and classification are done on basis of competition…

Q: Price (per box) MC 70 50 25 D MR Quantity (boxes) 350 500

A:

Q: Monopolistic competition resembles perfect competition.In what ways are they similar and what makes…

A: The two market situations have the subsequent points of similarities: The number of firms is large…

Q: Compare the long-run equilibrium position of a perfectly competitive firm and a monopolist.…

A: Perfectly competitive firm is one of many firms and monopoly is a single firm in the market

Q: The graph shows the cost curves, demand curve, and marginal revenue curve of a firm in monopolistic…

A: Monopolists would like to maximize the profit by producing at a unit where Marginal Revenue is equal…

Q: What is  Perfect Competition and how does it work? What is Monopolistic Competition and how does it…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Suppose the figure to the right shows the demand curve for a monopolistically competitive firm. Show…

A: Above given graph is representing the demand for the monopoly market, as shown in the graph it is…

Q: The graph shows the demand, marginal revenue, marginal cost, and average total cost curves of La…

A: The firm maximizes its profit or minimizes its losses at the point where the marginal cost of…

Q: Monopolistic Competition On the next few slides be sure to answer the following questions. What is…

A: Since we only answer up to 3 sub-parts, we will answer the first three. Please resubmit the question…

Q: What is the shape of the Demand curve under the monopolistic competition i only need the explanation…

A: There are different types of market for different products due to which there demand and supply…

Q: What does monopolistic competition have in common with monopoly. Do monopolist need advertisement…

A: Market structure is the business environment that prevails for different types of market industries.…

Q: Briefly explain any three key features of a Perfect Competitive and a Monopolistic market

A: Features of perfect competition are 1) There are many buyers and sellers and hence each of them have…

Q: The accompanying graph depicts average total cost (ATC) marginal cost (MC), marginal revenue (M),…

A: Monopolistic market is an example of imperfect competitive market. Some characteristics of this…

Q: How is monopolistic competition like monopoly? How is it like perfect competition? Discuss briefly.

A: Monopolistic competition refers to the situation where there are many firms exists in the market.…

Q: what is monopolistic competition? (50 WORDS)

A: Structure of the market is classified on the basis of number of buyers and sellers, product…

Q: please answer parts c,d and g

A: In order to answer the given questions, we first reproduce the given diagram.

Q: a. With the aid of a diagram explain how a monopolist determines how much output to produce and what…

A: Market Structure depicts how firms are being differentiated and also categorised based upon types of…

Q: Why monopolistic competition is less efficient than perfect competition. Explain your answei.

A: A market is a place or a region where the buyers and sellers interact with each other to exchange…

Q: How would you best describe the economic profit (or loss) at the profit maximizing quantity q* in…

A: There are a large number of firms manufacturing differentiated items in a monopolistically…

Q: ow many of the following statements are true about monopolistic competition at long run equilibrium

A: In Monopolistically competitive market, the sellers sell differentiated products which are close…

Q: Briefly explain any three key features of a Perfect Competitive and a Monopolistic market i. Show…

A: Perfectly competitive market: • The product is identical i.e. each and every firm in this industry…

Q: cceptabl

A: Monopolistic competition is a type of imperfect competition where there are many producers who are…

Q: Draw a diagram illustrating the case of a firm in monopolistic competition making a profit. Label…

A: Monopolistic market is a market structure that is characterized by the presence of a large number of…

Q: Why can’t firms under monopolistic competition achieve an economic profit in the long run?

A: The gap among the income gained from the selling of an item and the prices of all products included,…

Q: Will there be profits in the long run in a monopolistically competitive market? Explain your answer.

A: The market refers to a place where the buyers, and sellers interact. In a market, the buyers…

Q: Which of the following markets best fits thedefinition of monopolistic competition?a. wheatb. tap…

A: The market is a place where service and product transactions take place. In making decisions, it is…

Q: what is monopolistic competition economic profit?

A: What is monopolistic competition economic profit? Monopolistic competition is a market structure…

Q: Question #4: Using the following graph to answer the follwing questions: 100 MC ATC AVC 20 MR 1,000…

A: Monopoly has the market power because there are no competitors in the market.

Q: Does the monopolistic firm make a profit, loss, or zero economic profit in the long run?

A: Monopolistic competition- It is an imperfect competition in which there are many producers who sell…

Q: Will there be profits in the long run in a monopolistically competitive market?

A: A monopolistically competitive market is the market structure in which characteristics of both a…

Q: Is it possible for monopolistic firms to make supernormal profit/ positive profit in long run?…

A: Monopolistic competition is a market structure where large number of sellers exist to produce…