Draw a diagram depicting a firm that is making a profit in a monopolistically competitive market. Now show what happens to this firm as new firms enter the industry.

Q: What is true about the price that is charged in the short run by a firm in monopolistic competition?…

A: In monopolistic competition, the firm sells the product at a price when its marginal cost is equal…

Q: Suppose the accompanying graph depicts a monopolistically competitive firm earning positive economic…

A: Monopolistic competition is a kind of market structure in which there are several numbers of…

Q: What does monopolistic competition provide producers? A. One exclusive brand to sell. B. Total…

A: Monopolistic Competition is a type of market where there are large number of buyers and single…

Q: Draw a diagram depicting a firm that is making a profit in a monopolistically competitive market.

A: A market is the collection of buyers and sellers. There are different forms of markets based on…

Q: For a monopolistic competitor: Choose correct and explain your choice a. P=MR. b. P>MR. c. P=MC.…

A: The answer is - b. P>MR

Q: Which of the following items are sold by firms in monopolistic competition? Explain your selections.…

A: Monopolistic competition can be understood as a market where many firms are offering a product that…

Q: Explain why firms operating in monopolistically competitive markets probably will not earn an…

A: The monopolistic competition is a typical market structure within which firms have many competitors,…

Q: monopolistic competition said to be inefficient?

A:

Q: Describe the types of inefficiencies that derive from monopolistic competition.

A: Market structure in an economy can be defined as the organizational characteristics of a market.…

Q: If a monopolistically competitive market became perfectly competitive, output would likely: Choose…

A: Monopolistic competition: - monopolistic market structure is the structure in which there is a large…

Q: a diagram of depicting a firm that is making a profit in a monopolistically competitive market?

A: A monopolistic competitive firm maximizes its profits, he will produce at a price where Marginal…

Q: You decide upon Australia as a location for an Asian fast-food theme restaurant because you have…

A: Disclaimer: Since you have asked multiple questions, we will solve the first question for you. if…

Q: When firms in monopolistic competition are making an economic profit, firms will a.enter the…

A: In monopolistic competitive market, there are large number of firms selling differentiated goods…

Q: Which of the following markets/commodities is most likely to fall under monopolistic competition?…

A: there is many number of buyers and many sellers.There is product differentiation in this market and…

Q: Draw a diagram to show the long-run equilibrium of a firm in a Monopolistically Competitive market…

A: Under monopolistic competition, the firm will face a downward sloping demand curve as the products…

Q: Monopolistic competition creates inefficiency because of the Price markups and excess capacity. The…

A: Monopolistic competition is an imperfect market condition which is characterized by the presence of…

Q: You are hired as the consultant to a monopolistically competitive firm. The firm reports the…

A: Here, price, marginal cost and average total cost of a Monopolistic firm is given in two cases.

Q: In a monopolistic competitive market, Sara is a dot.com entrepreneur who has established a Web site…

A: Answer Assume demand schedule for Sara’s sweatshirts.   (A) TR = P x Q   MR = Change in TR / Change…

Q: The difference between monopolistic competition and perfect competition

A: Answer to the question is as follows :

Q: The cost of producing a tube of tooth paste is $0.05. If the market for tooth paste is…

A: A monopolistic competitive firm maximizes profit by producing at level of output where marginal…

Q: You are hired as the consultant to a monopolistically competitive firm. The firm reports the…

A: The monopolistically competitive market structure have profit maximizing condition in short run…

Q: Briefly explain monopolistic competition and provide an example of this in a South African industry.

A: Markets refers to the arrangements under which buyers are sellers are able to strike a deal…

Q: Explain with the use of a diagram when a monopolistic corporation maximises its profit

A: Competition: When there are several enterprises in a market, competition between them arises. The…

Q: Levi Strauss’ jean is an example of product that is found in ______ market. a. Monopolistic b.…

A: The market structure differ on the basis of different characteristic, i.e. the number of buyers,…

Q: Monopolies can maintain economic profits in the short and long run because of barriers to entry…

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

Q: Your friend Stan owns a coffee shop in a monopolistically competitive industry. One day, Stan tells…

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

Q: This graph shows a monopolistic competitor   Group of answer choices   in the short run breaking…

A: Monopolistic competition: The monopolistic competition is a market structure which is characterized…

Q: What effect does the entry of new firms have on the economic profits of existing​ firms? When new…

A: When new firms enter a monopolistically competitive​ market, the economic profits of existing firms…

Q: what market inefficiencies derive from monopolies and monopolistic competition?

A: The degree to which market prices accurately represent all relevant information that is currently…

Q: Draw a graph of a firm making positive profits in an industry of Monopolistic Competition.

A: In a monopolistic competitive firm there are large number of firms producing similar but not…

Q: explain the output, profit and loss conditions for monopolistically competitive firms. Show your…

A: Equilibrium output: Equilibrium output will occur at the point where the marginal cost and marginal…

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

A: Here, the given graph shows the cost, revenue and demand function of La Bella Pizza firm is a…

Q: A​ fast-food restaurant decides to raise the price of its hamburgers. Assume the firm is in a…

A: A monopolistically competitive industry consists of a large number of small firms that produce and…

Q: Describe the types of inefficiencies that derive from monopolistic competition. Use examples

A: Market is the place that helps provide a platform for various transactions which include both…

Q: if a monopolistic firm takes over a perfectly competitive market we would expect to see the market…

A: In perfect competition largest number of buyers and sellers are selling homogenous goods at single…

Q: Which of these markets is most likely to be identified as monopolistic competition?   Group of…

A: In case of monopolistic competition many firms offer the goods that are not that similar. (a) Shoes-…

Q: In the long run the selling price of a monopolistically competitive firms product is equal to he…

A: Monopolistic competition: - monopolistic market structure is the structure in which there is large…

Q: How does the short run differ from the long run in a monopolisticallycompetitive market?

A: A form of inconsistent competition is monopolistic competition so that multiple suppliers market…

Q: ou are hired as a consultant to a monopolistically competitive firm. The firm reports the following…

A: In long run, the firm’s P = ATC. Here, P > ATC. Hence, the firm cannot be in long run…

Q: In the long run, firms in monopolistic competition always will a. Earn an economic profit b.…

A: Short-Term Output and Price Decisions The following figure depicts the short-run equilibrium under…

Q: You are hired as a consultant to a monopolistically competitive firm. The firm reports the following…

A: In monopolistic competition, price is will be greater than marginal revenue (MR).

Q: Monopolistically competitive firms can earn above-normal economic profits in the short run.

A: answer   Monopolistically competitive firms can earn above-normal economic profits in the short run.…

Q: Draw a diagram depicting a firm that is making a profit in a monopolistically competitive market.…

A: Change in monopolistically competitive market when new firms enter the industry is illustrated…

Q: Use a set of graphs to demonstrate how a profit-maximizing monopolistically competitive firm…

A: Answer - Need to find - Use a set of graphs to demonstrate how a profit-maximizing monopolistically…