what is the perfect competition economic profit?

Q: What makes a monopolistic competitive firm different from that of a monopoly? From an economic…

A: The monopoly market and monopolistic competitive market, both are the market structure, with some…

Q: Igor’s Christmas tree lot has a monopoly on sales of Christmas trees. To increase his sales from 100…

A: The marginal revenue refers to the net revenue that an entity earns by selling an extra unit of its…

Q: The graph shows the demand curve, marginal revenue curve, and marginal cost curve of Big Splash,…

A: Economics refers to the social science that studies the production, distribution, and consumption of…

Q: How does price discrimination play a role in the economy?How does the idea of price discrimination…

A: Price discrimination is the pricing strategy (usually practiced by a monopolist) whereby the…

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: Why under monopolistic competition, a firm doesn't faces perfectly elastic demand curve.

A: # firstly we must understand the monopolistic market structure. In monopolistic market structure…

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

A: The difference between revenue being received from sales and the cost of all inputs that are being…

Q: Describe in words at which price and quantity firms in monopolistic competition maximize profits or…

A: Monopolistic competition is an imperfect competition where there is a large number of sellers…

Q: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answe…

A: In a monopolistic competitive market there are large number of firms producing similar but not…

Q: The graph shows the demand curve and marginal revenue curve of Java Time, Inc., a producer of…

A: The difference between total revenues less costs and the opportunity cost related to the income…

Q: Price (per box) MC 70 50 25 D MR Quantity (boxes) 350 500

A:

Q: Please refer to the graph below that shows the situation of a monopolistic firm. I. Price, Costs 850…

A: Producer Surplus- it indicates producer welfare. It is the difference between the amount the…

Q: Monopolistic Competition. Please explain detail with the diagram

A: Monopolistic competition is a market structure which have  combines elements of both monopoly and…

Q: Discuss the economic factors that lead to the development of monopolies. Examples of monopolies…

A: Monopoly is defined as a market structure in which there is only a single seller of the good or…

Q: What are the economic benefits of perfect competition compared to a monopoly?

A: When we talk about a perfect competitive market structure, we're talking about a market system where…

Q: What do economists mean when they say that competitive markets are more efficient than monopolistic…

A: A competitive market, also known as a perfectly competitive market, is a type of market structure…

Q: The only way for a firm in a monopolistic competition to increase its sales is to lower its price.”…

A: The market structure in which there is only a single producer who caters to the market demand for a…

Q: A. How does the demand curve faced by the firm in monopolistically competitive market differ from…

A: A monopolistically competitive market and a perfectly competitive market are similar in many…

Q: The monopolistically competitive firm represented in the graph is in: $ $11.40 $10.20 $7.50 0 520…

A: The monopolistically competitive firm is in long-run equilibrium. BecauseIn long-run equilibrium, a…

Q: What is the maximum profit for individual pricing

A: Total revenue is a term used frequently in economics and finance which refer to the receipts…

Q: Consider the long-run equilibrium with monopolistic competition. Do you consider it to be efficient…

A: Concept: A monopolistic competition is a market where there are large number of buyers and sellers…

Q: Dana is a dot-com entrepreneur who has established a Web site at which people can design and buy…

A: Formula used-Total Revenue=Price ×Quantitypricequantitytotal revenuefixed costvariable costtotal…