In a monopolistically competitive market this is the, Ask an Expert

Economics

In a monopolistically competitive market (This is the question).

A. a firm has market power because it produces a differentiated product.

B. a firm earns economic profits in the long run because it has market power.

C. there is a large number of firms.

D. both a and b

E. both a and c

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91224997

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question how does the existence of money reduce the costs

Question: How does the existence of money reduce the costs of making transactions, relative to a society based entirely on barter? English is becoming the usual language for international transactions, even if the langua ...

A in 1994 the marginal cost of producing the power mac was

a) In 1994, the marginal cost of producing the Power Mac was about $1,500 per unit, and a rough estimate of the monthly demand curve was: P = 4,500 - .15Q. At the time, what was Apple's optimal output and pricing policy? ...

Question what is meant by absolute poverty what measures of

Question: What is meant by absolute poverty? What measures of income poverty are favored by development economists? How do income poverty measures differ from the UNDP's Multidimensional poverty index? Why should we be c ...

Question the principal economic argument for abolishing the

Question: The principal economic argument for abolishing the long-term capital gains tax is that it would boost productivity, and hence pay for itself. The principal economic argument against that move is that it would e ...

Question mampms are colorful button shaped chocolates

Question: M&Ms are "colorful button shaped chocolates." Suppose that from our point of view as a consumer, each M&Ms: M&Ms is equally likely to have one of c different colors. We randomly sample 3 M&Ms: the two have the ...

Question suppose that the government cuts taxes in response

Question: Suppose that the government cuts taxes in response to a recessionary gap, but because of legislative delays the tax cut is not put in place for 18 months. Assuming that the government's objective is to stabiliz ...

Question joe is graduating from college and is currently

Question: Joe is graduating from college and is currently faced with a decision of choosing between two competing job offers for the same position from equally reputable companies. The jobs are in two different cities A ...

The number has jumped 60 since last year when prices were

The number has jumped 60% since last year. When prices were falling, the number fell from 2,000 in 2015 to only 480 in 2016. For the week of March 10, 2017 the number was at 762. The elasticity of the supply is around 0. ...

Question propose two separate behaviors other than

Question: Propose two separate behaviors other than government purchases that could offset the effects of the military spending reduction on total planned expenditure. Be specific in your examples. The response must be t ...

Question is the demand curve for children downward sloping

Question: Is the demand curve for children downward sloping? Explain, being careful to specify exactly what you mean by the price of children. What is your evidence? How about the demand for high grades in this course? D ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert