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

Question:

In what ways is a monopolistically competitive firm likely to be less efficient than one under perfect competition?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Economics

ISBN: 978-0273721307

7th edition

Authors: John Sloman, Alison Wride

See More Books

Question Posted: Nov 18, 2013 09:34 AM

See More Questions

In the long run, a monopolistically competitive firm earns zero economic profit, which is exactly what would occur if the industry were perfectly competitive. Assuming that the cost curves for each...
A monopolistically competitive firm has the following demand and cost structure in the short run: a. Complete the table. b. What is the highest profit or lowest loss available to this firm? c. Should...
Is it possible for a monopolistically competitive firm to continue to earn an economic profit as new firms enter the market?
Exercises 11-16: For the measured quantity, state the set of numbers that most appropriately describes it. Choose from the natural numbers, integers, and rational numbers. Explain your answer....
Explain what is meant by the statement, "the function point analysis is only as accurate as the system requirements document."
Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $ millions, except par value Feb. 1, 2019 Current assets Cash and cash equivalents $327...
For the balance sheet for Bethesda Imaging, shown in Table 2.6, identify three financial ratios that might be of interest to an investor in the company. What do the 5 -year trends for the ratios...
Howe and Duleys company is organized as a partnership. At the prior year- end, partnership equity totaled $150,000 ($100,000 from Howe and $50,000 from Duley). For the current year, partnership net...
1. Analyze the reasons China has a twin surplus. 2. What are the repercussions of this fact over a long period of time? 3.I just need help wtih the consequences.
Pamela Albright is the manager of the audit of Stanton Enterprises, a public company that manufactures formed steel subassemblies for other manufacturers. Albright is planning the 2018 audit and is...
Think of three examples of monopolies (local or national) and consider how contestable their markets are.
Are there any shops in your area that stay open later than others? If so, does this affect the prices they charge? Why do you think this is?
Write a method that reverses all lines in a file. Read all lines, reverse each line, and write the result.
Although most small businesses have annual revenues less than $39 million, there is no specific revenue limit set by the SBA for small businesses. True or False
A social intrapreneur is someone who provides funding for those in Third World countries who want to begin their own businesses but have no capital with which to do so. True or False
Rashid is starting a consulting business. He needs a receptionist, a place to meet clients, and other aspects of an office. A good solution for Rashid to consider would be a(n) a. mentoring group. b....
Which of the following factors commonly leads to the failure of a small business? a. Not enough planning b. Too much accumulated debt c. Unanticipated personal sacrifices d. All of the above
Wayland wants to buy a deli that is for sale, but the owner has put too high a value on the businesss goodwill. Goodwill is a. the value of the leftover products the deli gives to the local food...
The plate R in Figure 8, bounded by the parabola y = x 2 and y = 1, is submerged vertically in water (distance in meters). (a) Show that the width of R at height y is f(y) = 2y and the fluid force on...
Use translations to graph f. f(x) = x-/2 +1
A dozen eggs cost $0.88 in January 1980 and $1.77 in January 2018. The average hourly wage for production and nonsupervisory workers was $6.57 in January 1980 and $22.36 in January 2018. a. By what...
tableau: Consider solving a minimization linear program in standard form with current T1 x2 X3 x4 X5 27 W 0 1 0 r 1 0 3 2 0 0 1 -2 2 S -1 3 1 0 0 0 -1 2 1 2 = 0 0 0 0 t -3 u V The bold-red letter...
Calculate 3 different investment options for your client, while only changing the Monthly Payment (P) amount. The interest rate will be fixed at 6%, and the time will be fixed at 20 years. 1) How...
What are the current healthcare financing models in Argentina and what is the current state of health financing? How is money accumulated (ie. tax-based? employer-based? etc.)? What are the payment...

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

Question:

Step by Step Answer:

A basic characteristic of a monopolistically competitive firm is t...View the full answer

Economics

Students also viewed these Economics questions