Using appropriate diagrams, show a monopolistic and a monopolistically competitive firm whentheir respective markets are in long-run equilibrium. Outline the long-run outcomes in eachmarket with particular attention given to economic profits generated by each firm and themaximisation of total surplus associated with the market.

Q: Compare the elasticity of the monopolistic competitor’s demand with that of a pure competitor and a…

A: Being the only seller in the market, a monopolist holds the entire market dominance as there are no…

Q: Which of the following is a characteristic of monopolistic competition? few sellers homogeneous…

A: There are different market structures, oligopoly, monopoly, monopolistic competition and perfect…

Q: Explain any four features of the monopolistic competition in the economy

A: The determination of the quantity and the price depend on the various types of the market…

Q: In a monopolistically competitive market, A strategic interactions among the firms are very…

A: A market system with several enterprises operating and each selling somewhat different items is…

Q: Compare the elasticity of the monopolistic competitor’s demand with that of a pure competitor and a…

A: A monopolistic competitor's demand curve slopes downward which highlight that the competitor will…

Q: Consider a monopoly trading firm that dominates a particular market. Describe the factors that…

A: A monopoly is a market shape characterized by way of a single vendor or producer that has…

Q: Assume a monopolistic publisher agreed to pay an author 10% of the total revenue from the sale of…

A: Monopolistic competition(MC) is an arrangement of the market which has features of both a…

Q: put and price (c) Explain how the amount of profit is defined at t

A: Monopolistic competition is an imperfect competition type where there exist many producers which are…

Q: A product is produced in a monopolistically competitive industry with scale economies. If this…

A: Monopolistic competition describes an industry in which several enterprises compete for the same…

Q: Suppose the accompanying graph depicts a monopolistically competitive firm earning positive economic…

A: It is given that the following graph belongs to a monopolistically competitive market that earns a…

Q: Using appropriate diagrams, show a monopolistic and a monopolistically competitive firm whentheir…

A: In economics, a monopolistic firm is a single seller in the market with no close substitutes for its…

Q: $100 $90 MC АТС $80 $70 $60 $50 $40 $30 Demand = P $20 $10 MR $0 10 20 30 40 50 60 Output (Q) The…

A: There exists no excess capacity when firm operates in perfectly competitive market. Monopolistically…

Q: The graphs shows the marginal cost, MC, and average total cost, ATC, curves, along with revenue…

A: * ANSWER :-

Q: The total cost (TC) of a monopolistic firm is a linear function of output (q), expressed as TC=20q.…

A: Given, TC = 20q p = 100 - 2q

Q: Assume that in short-run equilibrium, a particular monopolistically competitive firm charges $12 for…

A: A monopolistically competitive firm is the one where there are large number of firms producing…

Q: Scenario 16-6 Ike's Ice Cream has decided to open a new ice cream parlor in Mayville, MS. The market…

A: Monopolistic competition involves many firms offering differentiated products, engaging in non-price…

Q: Refer to Figure 3. Assume a monopolistic competitive environment: From the 4 graphs depicted, which…

A: The firms are motivated to enter a market only if there are profits in the market in the short run .…

Q: 5. How short-run profit or losses induce entry or exit Citrus Scooters is a company that…

A: Monopolistic competition refers to the market structure that lies between perfect competition and…

Q: Create a Graph For this assignment; you will produce a marginal cost anatys graph and answer some…

A: Monopolies can lead to higher prices, reduced consumer choice, and potential inefficiencies in…

Q: A monopolistically competitive firm can earn positive profit both in the short run and in the long…

A: A monopolistically competitive market has many firms producing competition with each other. Each…

Q: Suppose, initially there is a positive profit obtained by a firm in monopolistic competition.…

A: In a monopolistic market, entrance and exit obstacles are minimal, and one business's actions have…

Q: Figure: Monopolistic Competition II Price of a small pizza $12 11 10 MC ATC 12 Number of small…

A: The firms in the monopolistic competition produce similar but not identical goods and services or in…

Q: at the Because this market is a monopolistically competitive market, you can tell that it is in…

A: The graph will look like:

Q: What is an assumption of the model of monopolistic competition? O Consumers lack adequate…

A: Monopolistic competition is one of the imperfect competition with a large number of buyers and…

Q: Give an example and explain the profit-maximizing output level and profit of a monopolistic firm by…

A: Monopoly being the single seller in a market, in the market for Windows Operating System, its seller…

Q: The difference between the profit maximizing level of output a firm in a monopolistic competitive…

A: A monopolistic competitive market operates at the intersection of the MR and MC curves to maximize…

Q: Consider the monopolistically competitive market structure, which has some features of a perfectly…

A: A perfectly competitive market is the which has a large number of buyers and sellers, selling…

Q: onopolistically competitive market. On the given graph, show Sleek's profit- aximizing output and…

A: A monopolistically competitive firm is a kind of market structure that combines elements of both…

Q: Which of the following is shared by both monopolistically competitive markets and perfectly…

A: Monopolistic competition:   It is a market structure characterized by the existence of a large…

Q: 3. How short-run profit or losses induce entry or exit Fantastique Bikes is a company that…

A: In monopolistic competitive market, profit is maximized at a point where marginal revenue is equal…

Q: In California, let’s assume that Armando sells bagels in a monopolisticly competitive market.…

A: Armando operates in a monopolistically competitive industry, which means it is not a monopolist but…

Q: Which of the following is a difference between a monopoisticaly compettive market and a monopoly in…

A: Market structures are essential in economics because they influence the dynamics that govern…

Q: The most important factor that drives the long-run profit to zero in monopolistic competition is the…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following is true for a monopolistically competitive industry? * O There are many…

A: Monopolistic firm: It refers to a firm under which goods and services are produced by many…

Q: With the aid of diagram, explain whether a monopolistically competitive firm is able to achieve…

A: Monopolistic competition does not produce the output that corresponds to the efficient level.

Q: Suppose that a firm produces wool jackets in a monopolistically competitive market. The following…

A: Firms working under monopolistic competition vary from perfectly competitive firms. The item they…

Q: The graph shows the cost curves, demand curve, and marginal revenue curve of a firm in monopolistic…

A: Profit maximizing quantity would be determined where MR=MC So the quantity would be 150.  At…

Q: The accompanying graph depicts average total cost (ATC) marginal cost (MC), marginal revenue (M),…

A: Monopolistic market is an example of imperfect competitive market. Some characteristics of this…

Q: The table below shows the monthly demand schedule for a good in a duopoly market. The two producers…

A: Fixed cost faced by two producers in the market = $4800 Marginal cost= 0 Total cost= Fixed cost +…

Q: 3. Discuss the long debate of economists whether there is a significant loss of well-being to…

A: Introduction Perfect competition and imperfect competition both are a part of market.  Perfect…