9. Ignoring oligopoly and focusing on the other three types of market structure, in which of those marketstructures does a profit-maximizing firm charge a price that exceeds marginal cost?a. monopoly onlyb.C. monopoly and perfect competitiond.a.b.C.d.a.b.C.d.a.b.monopoly and monopolistic competitionC.d.monopolistic completion and perfect competition10. When a monopolistically competitive firm is in long-run equilibrium, what is the case?Price is equal to minimum average total cost.Price equals marginal cost.Price equals marginal revenue.Price is equal to average total cost.11. What is the role that the Competition Act plays in our market economy?It was passed to encourage judicial leniency in the review ofcooperative agreements.12. Firms in industries that have competitors but, at the same time, do not face so much competition that they areprice takers, are operating in either of which types of markets?oligopoly or perfectly competitive marketIt was concerned with self-interest-dominated Nash equilibriums inprisoners' dilemma games.It enhanced the ability to enforce cartel agreements.It restricted the ability of competitors to engage in cooperativeagreements.oligopoly or monopoly marketoligopoly or monopolistically competitive marketmonopoly or monopolistically competitive market

Market refers to a place at which the buyer and seller of a goods or service comes in contact to…

9. Ignoring oligopoly and focusing on the other three types of market structure, in which of those market structures does a profit-maximizing firm charge a price that exceeds marginal cost? monopoly only b. C. d. monopoly and monopolistic competition monopoly and perfect competition monopolistic completion and perfect competition 10. When a monopolistically competitive firm is in long-run equilibrium, what is the case?

9. Ignoring oligopoly and focusing on the other three types of market structure, in which of those market structures does a profit-maximizing firm charge a price that exceeds marginal cost? monopoly only b. C. d. monopoly and monopolistic competition monopoly and perfect competition monopolistic completion and perfect competition 10. When a monopolistically competitive firm is in long-run equilibrium, what is the case?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. Explain why firms in perfect competitive markets have no incentive to advertise for their products and firms in monopolistic competitive markets have an incentive to advertise for their products.
a. Critically compare and contrast monopoly with perfect competition and explain why monopoly output and price level leads to deadweight loss. b. Describe the characteristics of monopolistic competition and how and why monopolistic firms make decisions about product differentiation.
Question Help O How might a monopolistically competitive firm continually earn economic profit greater than zero? To earn economic profit greater than zero, a monopolistically competitive firm must A. eliminate excess capacity by producing at minimum average cost. B. differentiate its product and produce at lower average cost than competitors. c. block entry of new firms with government-enforced trademarks. D. rely on chance events. E. be the first firm to enter a market to obtain first-mover advantages.
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please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
Suppose new firms enter a monopolistically competitive market. What is the effect of new firms entering the market from the perspective of the firms that were already in the market? Question 11Answer a. Positive supply shock b. Positive demand shock c. No effect d. Negative supply shock e. Negative demand shock
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