Under monopolistic competition, entry come the sector is-completely cost-free of barriers.-more an overwhelming than under pure competition yet not almost as challenging as under pure monopoly.-more daunting than under pure monopoly.-blocked.
You are watching: In the long run, the representative firm in monopolistic competition tends to have
A monopolistically competitive firm"s marginal revenue curve-is downsloping and coincides through the need curve.-coincides through the need curve and also is parallel come the horizontal axis.-is downsloping and also lies below the demand curve.-does no exist because the for sure is a "price maker."
Monopolistic vain is identified by excess volume because-firms room always lucrative in the long run.-firms charge a price the is greater than marginal cost.-firms produce at an calculation level much less than the least-cost output.-the demand for a product is perfectly elastic in this type of industry.
In the lengthy run, the representative for sure in monopolistic competition tends to have-excess capacity.-economic profits-no product differentiation.-a perfectly elastic demand curve.
At long-run equilibrium in monopolistic competition, over there is-allocative efficiency.-productive efficiency.-both allocative and also productive efficiency.-neither allocative nor productive efficiency.
Which statement concerning monopolistic compete is false?-In the lengthy run p = AC > MC.-Firms might experience accident in the quick run.-Firms distinguish their products, yet the commodities are reasonably substitutable.-Firms may experience positive financial profits in the long run.
In long-run equilibrium, a profit-maximizing for sure in a monopolistically competitive sector will develop the quantity of calculation where-ATC = P, grandfather = MC = P.-ATC -ATC -ATC = P, mr = MC
Mutual interdependence means that a firm"s-behavior is influenced by various other firms" actions.-profits are impacted by various other firms" entrance or exit.-costs are affected by various other firms" costs.-revenues are influenced by other firms" demand for that is product.
If oligopolistic firms facing comparable cost and also demand conditions successfully collude, price and also output outcomes in this sector will be most accurately predicted through which of the adhering to models?-the kinked need curve model of oligopoly-the price-leadership model of oligopoly-the pure monopoly model-the monopolistic vain model
A major reason the firms type a cartel is to-reduce the elasticity of demand for the product.-enlarge the sector share because that each producer.-minimize the expenses of production.-maximize share profits.
Informal collusion come restrict output and increase price is periodically referred to together a-merger.-cartel.-tacit understanding.-kinked-demand oligopoly.
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