Is a monopolistically competitive firm productively efficient? Is it allocatively efficient? Why or why not?
Question:
Is a monopolistically competitive firm productively efficient? Is it allocatively efficient? Why or why not?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
Monopolistically competitive firms are not typically productively efficient or allocatively efficient and Ill explain why Productive Efficiency Produc...View the full answer
Answered By
Madhvendra Pandey
Hi! I am Madhvendra, and I am your new friend ready to help you in the field of business, accounting, and finance. I am a College graduate in B.Com, and currently pursuing a Chartered Accountancy course (i.e equivalent to CPA in the USA). I have around 3 years of experience in the field of Financial Accounts, finance and, business studies, thereby looking forward to sharing those experiences in such a way that finds suitable solutions to your query.
Thus, please feel free to contact me regarding the same.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Which of the following best describes the efficiency of monopolistically competitive firms? a. Allocatively efficient by productively inefficient. b. Allocatively inefficient but productively...
-
Why is a monopolistically competitive firm not productively efficient? In what sense does a monopolistically competitive firm have excess capacity?
-
Does the fact that monopolistically competitive markets are not allocatively or productively efficient mean that there is a significant loss in economic well-being to society in these markets? In...
-
What is a derivative contract? Give an example. How are derivatives related to risk management?
-
What is Benfords Law?
-
The radiator in an automobile is a cross-flow heat exchanger (UA s = 10 kW/K) that uses air (c p = 1.00 kJ/kgK) to cool the engine-coolant fluid (c p = 4.00 kJ/kgK). The engine fan draws 30C air...
-
A single acting reciprocating pump has to deliver water against a total head of 50 m. The plunger diameter is 120 mm. What is the force exerted by the plunger during delivery stroke? Assume pump...
-
Jazzy Cola produces a lemon- lime soda. The production process starts with workers mixing the lemon syrup and lime flavors in a secret recipe. The company enhances the combined syrup with caffeine....
-
The following is a summary of the transactions for the year: a. Provided services, $108,000, of which $32,400 was on account and the balance was received in cash. b. Collected on accounts receivable,...
-
Would you rather have efficiency or variety? That is, one opportunity cost of the variety of products we have is that each product costs more per unit than if there were only one kind of product of a...
-
Will the firms in an oligopoly act more like a monopoly or more like competitors? Briefly explain.
-
Create select queries for What SUP using specific criteria (use the Ch11-02 student file). a. Create and print a select query that lists the buyer name, buyer phone number, and product name of...
-
Sample: 4, 13, 25, 31, 37 By hand, find the population variance and standard deviation or the sample variance and standard deviation as indicated.
-
Sample: 23, 12, 6, 8, 9 By hand, find the population variance and standard deviation or the sample variance and standard deviation as indicated.
-
The following data represent the amount of time (in minutes) a random sample of eight students took to complete the online portion of an exam in a particular statistics course. Compute the mean,...
-
An insurance company crashed four cars in succession at 5 miles per hour. The cost of repair for each of the four crashes was \($422\), \($454\), \($419\), \($215\). Compute the range, sample...
-
A concrete mix is designed to withstand 3000 pounds per square inch (psi) of pressure. The following data represent the strength of nine randomly selected casts (in psi). 3950, 4080, 3300, 3100,...
-
On May 31, 2017, Debden Ltd., a land development company, sold land to Grindstone Inc. for $16,000,000. The sale agreement required that Grindstone pay $4,000,000 to Debden on May 31, 2017 and then...
-
Explain briefly what is meant by electronic data interchange (EDI). How does EDI affect a companys audit trail?
-
Review the following sales transactions for April Anglers and record any required journal entries. Oct. 4 Oct. 5 Oct. 12 Oct. 24 April Anglers made a cash sale of 40 fishing poles to customer Billie...
-
Review the following sales transactions for Birdy Birdhouses and record any required journal entries. Aug. 10 Aug. 12 Aug. 14 Aug. 20 Birdy Birdhouses sells 20 birdhouses to customer Julia Brand at a...
-
Which of the following is not a reason for the physical inventory count to differ from what is recognized on the companys books? A. Mismanagement B. Shrinkage C. Damage D. Sale of services to...
-
conversion costs are incurred evenly throughout the process. The beginning inventory consists of $51,750 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item...
-
Golf Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations:...
-
Read the following article, A Day in the Life of a PreK Teacher . Share your thoughts about how this way of life each day will suit you well in your strengths as a teacher and where you anticipate...
Study smarter with the SolutionInn App