Question
Asked Dec 4, 2019
1 views

Why is it that monopolies can enjoy long run profits, but firms under monopolistic competition face a zero-profit long run equilibrium?

check_circle

Expert Answer

Step 1

Market:

Market refers to the place where the buyer and seller of the commodity...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Economics

Market hypothesis

Related Economics Q&A

Find answers to questions asked by student like you

Show more Q&A add
question_answer

Q: Money serves three functions in the economy: medium of exchange, unit of account, and store of value...

A: Money is anything which is accepted by the economy as a medium of exchange, unit of account and stor...

question_answer

Q: Suppose the price level reflects the number of dollars needed to buy a basket of goods containing on...

A: Suppose, the in year one the price of the basket is $7.00 and $6.00 in year two. We can find the cha...

question_answer

Q: know how to plot graph and explain price discrimination

A: The price discrimination is the practice of charging different price from different consumers for th...

question_answer

Q: Some economists argue that the current account deficit in the United States is less problematic than...

A: Click to see the answer

question_answer

Q: Describe 3 ways in which human decision making differs from the rational individual conventional eco...

A: Click to see the answer

question_answer

Q: Why do banks want to maintain as little excess reserves as possible? Under what circumstances might ...

A: Excess reserves are the difference between actual reserves and required reserves.Excess Reserves = A...

question_answer

Q: List the first ten countries in Africa with the lowest policy rates from 2008 to 2018.

A: The key lending rate of the central bank in a country is known as the policy rate. The policy rate u...

question_answer

Q: Part a, b, c

A: Hi, since you have posted a question with multiple sub parts, we will be answering only first three ...

question_answer

Q: Suppose that the general public decided to increase its holdings of currency and decrease its checki...

A: If the federal reserve does not take any offsetting action, banks will increase the outstanding loan...