User Account

All Pages

What is monopolistic about monopolistic competition

Assignment Help Business Economics
Reference no: EM131395674

Choose ONE question to answer in 2 paragraphs:

1. Give examples of industries that are monopolistically competitive. Find the news articles, books which explain these examples.

2. What is "monopolistic" about monopolistic competition? What is "competitive" about a monopolistically competitive market? Please explain. 

3. Suppose that A Cleaner World invents a new type of laundry detergent that has an ingredient that stops stains from setting into clothes. If the laundry detergent market is monopolistically competitive, explain what will happen to the price of its product in the short run. What will happen in the long run?

4. "If the amount of product differentiation in a monopolistically competitive industry is very small, the outcome in that market will not be very different than if it were a perfectly competitive industry." Please explain.

5. Can a monopolistically competitive firm producing a good with lots of very close substitutes earn large positive profits in the long run? Please explain.

Reference no: EM131395674

Questions Cloud

Discuss about the evidence-based practice : You need to have a strong PICO(T) question in order for the search to make sense. If you are struggling with this please don't hesitate to email me and send me your question with the PICO(T) breakdown so I can help you with this. Send it early in ..
Create functions for returning those data values : Create functions for checking a book in and out. Do simple validation of data entered into a Book; for example, accept ISBNs only of the form n-n-n-x where n is an integer and x is a digit or a letter. Store an ISBN as a string.
Quality of textbooks increased dramatically : Professors required each student to buy 10 notebooks, regardless of the price. The quality of textbooks increased dramatically from 2014 to 2016, with textbook companies bundling new online study aids with their books, but this quality change is h..
Whether definitions are stipulative or lexical - femikin : Determine whether the following definitions are stipulative, lexical, precising, theoretical, or persuasive.- "Femikin" means a female manikin.
What is monopolistic about monopolistic competition : 1. Give examples of industries that are monopolistically competitive. Find the news articles, books which explain these examples. 2. What is "monopolistic" about monopolistic competition? What is "competitive" about a monopolistically competitive..
Design and implement a name_pairs class : Provide a sort() operation that sorts the name vector in alphabetical order and reorganizes the age vector to match. Implement all "operations" as member functions. Test the class (of course: test early and often).
Should the united states maintain its position : The United States has maintained its stance. Should governments anywhere, all with imperfect human-designed and human-run justice systems, take human life? Should the United States maintain its position
How does your program deal with boundary conditions : COMP 2103X1- Does you program "blow up" on unexpected input, or does it deal with bad input in a "graceful" way? How does your program deal with boundary conditions, if there are any?
Describe how a change in the exchange rate affected : Question One: Using shifts in supply and demand curves, describe how a change in the exchange rate affected your industry in a hospital setting. Label the axes, and state the geographic, product, and time dimensions of the demand and supply curves..

Reviews

Write a Review

Business Economics Questions & Answers

  Two factors of production according to technology

A firm produces output using two factors of production according to technology f(x1, x2) = (x1^1/2)(x2^1/4). The price of output is 4. Factors 1 and 2 cost to the firm w1 and w2 per unit, respectively. (i) Write an expression for the firm’s profit. (..

  The eventual change in gdp will be

A major industrial firm decides to spend $2,000,000 to purchase new machines for a factory. If the marginal propensity to consume is 0.8, the eventual change in GDP will be?

  Formulate optimization problem and solve for demand function

Chris consumes only 2 goods, Suppose his utility function is U(X1,X2)=X1 1/3,X2 2/3, Suppose P1 =$2,P2= $8 and income(I)=$600 I want to know how to do the problem, so I need to see all the steps it takes to arrive at the correct answers for a,b and c..

  Compare the shapes of these curves

Compare the shapes of these curves and discuss their characteristics. (Particularly interesting is the marginal cost function, which is also often found in engineering cost studies.)

  Rival office supply companies office depot

Assume the cost of a can was $5.10. In this case, to maximize its profit the firm illustrated in the figure above would

  Agricultural cooperative association for citrus growers

Florida Citrus Mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to the price and output of Florida oranges under the conditions below. What are your predictions? For each part, sketch a ..

  What is an example of a trade

Suppose Japan can produce 2 million trucks per day, or it could produce up to 3 million cars. ON the other hand, Germany can produce 4 million trucks per day, or it could produce up to 5 million cars. What is an example of a trade that could take pla..

  What is quantity demanded and quantity supplied of cars

Consider the market for cars in a small country. Suppose the demand and supply curves for cars have been estimated and are given by. Suppose the prevailing price is the (free-trade) world price pF T = 4.5. At this price, what is the quantity demanded..

  Suppose that the price of oil continues to decline

Suppose that the price of oil (and gasoline) continues to decline.  According to our discussion, what impact will this have on the economies of the U.S. states?

  Determine the effect on aggregate output-consumption

Suppose that there is a natural disaster that destroys part of the nations capital stock. Determine the effect on aggregate output, consumption, employment, and the real wage, with reference to income and substitution effects, and explain your result..

  Increase in the confidence in the banking system

The recent stress test result for the banks in the U.S. has led to an increase in the confidence in the banking system. Explain how this can affect the economy using the IS-LM model.

  Explain in detail how both medicare and medicaid each pay

Describe, define and explain in detail how both Medicare and Medicaid each pay for of the following services: a) hospital in-patient services, b) physician professional services. c) out-patient medical services and tests (lab, x-ray, etc.).

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd