What are the characteristics of monopolistic competition

Assignment Help Microeconomics
Reference no: EM13219275

(a) What are the characteristics of monopolistic competition?

(b) Why is the firm's demand curve flatter than the total market demand curve in monopolistic competition?

(c) Suppose a monopolistically competitive firm is making a positive economic profit in the short run. What will happen to its demand curve in the long run? And what will be its economic profit in the long run? Briefly Explain.

Reference no: EM13219275

Questions Cloud

What is the data transmission rate : Suppose that data are stored on a 1.4-Mbyte floppy diskettes that weight 30 g each. Suppose that an airliner carries 10,000 kg of those floppies at a speed of 1000 km/h over a distance of 5000 km. What is the data transmission rate in bits per sec..
Will firm 2 expect higher or lower profit compared to profit : Suppose that the two firms compete in output and set their output levels simultaneously. Given that firm 1's reaction curve is Q1 = 150 - 2Q2 and firm 2's reaction curve is Q2 = 150 - 2Q1, what are the two firms' output levels in equilibrium
Draw a band diagram : Calculate the Fermi level position relative to conduction band (Ec-Ef) and relative to valence band (Ef-Ev).
Determine thermal equilibrium recombination rate of electron : A semiconductor, in thermal equilibrium, has a hole concentration of p0 = 2x10^16 cm^-3. The minority carrier life time = 3x10^-7 s. (Assume, ni = 10^10 cm^-3)
What are the characteristics of monopolistic competition : (b) Why is the firm's demand curve flatter than the total market demand curve in monopolistic competition (c) Suppose a monopolistically competitive firm is making a positive economic profit in the short run. What will happen to its demand curve i..
What is dither in audio signal processing : What is dither in audio signal processing?
What is the average electron drift velocity : A silicon semiconductor resistor is in the shape of a rectangular bar with a cross sectional area of 1x10^-6 cm^2 a length of 0.1 cm and is doped with a donor concentration of 5x10^16 cm^-3.
Behavioral-psychological and physiological consequences : Explain in bullet statements the consequences of stress based on the following: Behavioral, Psychological,and Physiological consequences.
Explain dynamic relationship of motivation-personality : Explain the history of motivation theory in I/O psychology based on: Freud's Instinct theory, Maslow theory, Skinner's Behavioral theory, and Kurt Lewin's group dynamics. Explain the dynamic relationship of Motivation and personality.

Reviews

Write a Review

Microeconomics Questions & Answers

  How high could it raise the lease payment

What is the monthly payment if you ?nance the car over 4 years at the following interest rates: 0%, 4%, and 8%?

  What would be the total potential gains from trade

What would be the total potential gains from trade if the ski resort and the birders were able to negotiate and what are the total net benefits of the economically efficient number of ski resort acres

  Question about national security

Choose any 2-of the 4-basic strategies used to preserve security and identify and explain what assumptions are created about the opponent based each of the two strategies that you select.

  Would it matter if the bank simply refused to fill positions

Gorton is HIV positive. He is also has severe allergies. The medication he takes to control the debilitating effects of his allergies causes his nasal membranes to dry out, resulting in frequent nosebleeds. Even though his allergy medications cont..

  Determine the companys pricing strategy for the new product

Demand for airline tickets fluctuates throughout the year, which affects the price of an airline ticket. Suggest the type of game that may be most appropriate for a specific airline to play to address the differences in demand and elasticity and t..

  Discuss and classify the clinic input costs-fixed inputs

What would the number of paying patients and federally funded seniors be if the federal funding agency raised its rate to $120 per treatment?

  Define law of demand and supply

Suppose a medical study reveals new benefits to consuming beef, and at the same time a bumper corn crop reduces the cost of feeding cattle. The equilibrium quantity of beef will stay the same.

  How management can best maintain the balance

Explain how the marginal product of labor and the marginal product of capital are used in decision-making. Take into account how productive each is per dollar spent and make up your own example of the balance.

  Discuss if entrant is better off with or without the ability

In the text, we considered a sequential move game in which an entrant was considering entering an industry in competition with an incumbent firm. Consider now that the entrant, if fought, has the possibility of withdrawing from the industry (at a..

  Shifts in demand curve

What are some of the ways these curves shift and what is the corresponding change to the point of equilibrium?

  Evaluate the point income elasticity of demand

Calculate the point cross price elasticity of demand with respect to the price of competing television sets (P C ) at the values represented in question six and calculate the point income elasticity of demand for HD televisions at the values represen..

  Correctly labelled demand and supply diagram

What is the negative consumption externality described in this quote? Show this externality on a correctly labelled demand and supply diagram for the petrol market.

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!

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