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Q. A. Cable television service b. Wheat c. Athletic shoes d. Soda e. Shaving cream f. Toothbrushes g. Ready-mix concrete Explain each of your selections. 1. Which of following goods and services are sold by firms in monopolistic competition? A. Cable television service b. Wheat c. Athletic shoes d. Soda e. Shaving cream f. Toothbrushes g. Ready-mix concrete Explain each of your selections. 2. four-firm concentration ratio for audio equipment makers is 30 and for electric lamp makers is 89. HHI for audio equipment makers is 415 and for electric lamp makers is 2,850. Which of these markets is an example of monopolistic competition? 3, Figure 1 shows demand curve, marginal revenue curve and cost curves of Lite and Kool, Inc., a producer of running shoes in monopolistic competition. A. What quantity does Lite and Kool produce? B. What price does it charge? C. What is Lite and Kool's markup? D. How much profit does Lite and Kool make? E. Do firms in monopolistic compe
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