Monopolies can maintain economic profits in the short and long run because of barriers to entry which prevent competitors from entering the market.  A Monopolistic Competition market does not have barriers to entry so firms are free to enter and leave the market.  This creates a situation where there is a long and short run similar to perfect competition. A graph showing: short run economic profit A graph showing: short run economic loss A graph showing: long run - normal profit (economic profit equal to zero)

Q: What are monopolies and oligopolies? How do they tend to differ from businesses in a market where…

A: Both monopolies and oligopolies are the imperfectly competitive markets. The monopolies are a market…

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Q: Question 8 Which of the following statements about oligopolies is NOT correct? Group of answer…

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Q: Explain monopolistic competition.  How is it similar to perfect competition?  How does it differ…

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Q: 1. What is oligopoly? 2. What is the difference between monopoly and monopolistic competition?

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Q: MC 8 ATC 7 6 5.5 5 3. 2 ist 15t

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Q: Use the graph to answer the question that follows.

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Q: How do monopolies and oligopolies differ from perfectly competitive markets?

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Q: Why do oligopolies exist? List five or six oligopolists whose products you own or regularly…

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Q: Monopolistic Competition On the next few slides be sure to answer the following questions. What is…

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Q: i. Cardinal verses ordinal utility i. Monopolistic competitive firm and oligopolistic firm

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