Please answer both are questions pleaseCorrect Consider perfect competition and monopolistic competition. In which market structures will we seidentical products being produced by al frems?O Perfect competitionMonopolistic competitionBoth of the aboveNone of the aboveWhich of the following is a reason that monopolisticaly competitive firms may have higher costs thanperfectly competitive forms? Monopolistially competitive forms mightO not want to exploit economies of scaleO use market power to raise their costs and pricesO spend resources in an effort to ifferentiate their productcollude with other firms

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Consider perfect competition and monopolistic competition. In which market structurels) will we see identical products being produced by al firms? O Perfect competition O Monopolistic competition Both of the above None of the above

Consider perfect competition and monopolistic competition. In which market structurels) will we see identical products being produced by al firms? O Perfect competition O Monopolistic competition Both of the above None of the above

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter10: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 2SCQ: Continuing with the scenario in question 1, in the long run, the positive economic profits that the...

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Question

Please answer both are questions please

Correct

Consider perfect competition and monopolistic competition. In which market structures will we se
identical products being produced by al frems?
O Perfect competition
Monopolistic competition
Both of the above
None of the above
Which of the following is a reason that monopolisticaly competitive firms may have higher costs than
perfectly competitive forms? Monopolistially competitive forms might
O not want to exploit economies of scale
O use market power to raise their costs and prices
O spend resources in an effort to ifferentiate their product
collude with other firms

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