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

Q: What is a monopolistic firm? Explain briefly.

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: In the long run monopolistically competitive firms are inherently inefficient. do you agree? explain

A: Monopolistic competition is a market structure where many producers sell differentiated goods.…

Q: What is the edge of perfect competition to monopolistic competition? What is way more better?…

A: Perfect competition: It is a market structure where there exist a large number of buyers and a large…

Q: what is the perfect competition economic profit?

A: What is the perfect competition economic profit? A firm in a perfectly competitive market wants to…

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

A: Monopolistic competition is the mixture of Monopoly and competition. It is the market fairly large…

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: In what ways is a monopolistically competitive firm likely to be less efficient than one under…

A: Market Structure and Efficiency: Perfectly competitive markets are markets where all goods are the…

Q: What is monopolistic competition? Give a real-life example which follows the pattern very closely.

A: Monopolistic competition is one of the 4 main market structures which are:- Perfectly competitive…

Q: Why is a competitive market generally better for society than a monopolistic market?

A: A market economy is a way of running an economy in which the private sector, not the government,…

Q: Is a monopolistically competitive firm productively efficient? Is it allocatively efficient? Why or…

A: Monopolistic competition is a kind of imperfect market structure where there is large number of…

Q: What is perfect competition? Distinguish it to monopolistic competition

A: Perfect Competition in actual world is a imaginary market that is it does not exists in the real…

Q: What gives firms market power in an industry characterized by Monopolistic Competition?

A: Monopolistically competitive firms have one trademark that resembles an imposing business model (a…

Q: competitive firm's are inherently inefficient Do you agree? Explain.

A: Monopolistic competition is a market where in large number of buyers exist sell homogenous products…

Q: Why can’t firms under monopolistic competition achieve an economic profit in the long run?

A: The gap among the income gained from the selling of an item and the prices of all products included,…

Q: if a monopolistic firm takes over a perfectly competitive market we would expect to see the market…

A: In perfect competition largest number of buyers and sellers are selling homogenous goods at single…

Q: What factors hinder firms in monopolistic competition from earning economic profits in the long run?

A: Monopolistic competition is a form of imperfect competition where there are a large number of buyers…

Q: Does the monopolistic firm make a profit, loss, or zero economic profit in the long run?

A: Monopolistic competition- It is an imperfect competition in which there are many producers who sell…

Q: Is it possible for monopolistic firms to make supernormal profit/ positive profit in long run?…

A: Monopolistic competition is a market structure where large number of sellers exist to produce…

Q: I know that profit maximization for both a competitive and monopolistic market is MC=MR, however…

A: a. According to the twice-as-steep rule, the marginal cost curve slope twice as steep as the demand…

Q: Why is demand curve facing a monopolistic competition firm likely to be more elastic?

A: Price elasticity of demand (PED) is the responsiveness of a percentage change in quantity demanded…

Q: What is Monopolistic Competition?

A: What do you mean by Monopolistic competition  ?