PLEASE ANSWER ALL OF THE QUESTIONS OR I WILL NOT GIVE YOUR ANSWER A GOOD REVIEW.
ID: 1209019 • Letter: P
Question
PLEASE ANSWER ALL OF THE QUESTIONS OR I WILL NOT GIVE YOUR ANSWER A GOOD REVIEW. IF THE DROP DOWN MENU OPTIONS ARE NOT APPARENT RIGHT AWAY, DON'T WORRY ABOUT THEM (I DO GIVE OPTIONS FOR QUESTIONS 1 AND 7, HOWEVER). THANK YOU SO MUCH FOR YOUR HELP!
OPTIONS FOR A THROUGH C (DISREGARD D)?:
-DIFFERENTIATE THEIR PRODUCTS
-FACE COMPETITION FROM MANY OTHER FIRMS
-PARTICIPATE IN MARKETS WHERE BARRIERS TO ENTRY ARE PRESENT
OPTIONS FOR QUESTION 7:
DIFFERENTIATE BY LOCATION
DIFFERENTIATE BY QUALITY
DIFFERENTIATE BY STYLE/TYPE
Question 1 2 pts Fill in the blanks with the answer choices that best answer the questions below Monopolies and monopolistically competitive firms differ in that monoposSelect] I Select ] [ Select ] Firms in monopolistic competition , which makes monopolistic competition different than perfect competition Select ] In comparison to oligopolies, firms in monopolistic competition, [Select ] Which of the following scenarios is an example of an industry in monopolistic competition?Explanation / Answer
Monopolies and monopolistic firm differs from each other because monopolies operates with positive profit where as monopolistic firms work with normal profit.
In perfect competition all goods are substitute in monopolistic competition higher degree of heteroginity occurs.
In oligopoly there is lesser number of firms than monopolistic competition and also there is free entry and exit in monopolistic where as in oligopoly there exist some barriers.
2) Firms total cost is 25 x 50 = 1250
Firms revenue is 30 x 50 =1500
Total profit is (1500 -1250) =250
3) In short run Firm will earn positive profit.
In the long run all firms will earn normal profit.
In the long run all firm with same cost will exist in the market and rest of them who have higher cost will leave the market.
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