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please answer all questions! In the short run, a firm in a monopolistically competitive market operates...

please answer all questions!
In the short run, a firm in a monopolistically competitive market operates much like what type of firm? U a perfectly competi
When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistica
Figure 16-3 MC ATC Refer to Figure 16-3. Which of the graphs shown would be consistent with a firm in a monopolistically comp
Figure 16-1 Lines in the figures below reflect the potential effect of entry and exit in a monopolistically competitive marke
What did Edward Chamberlin argue about brand names? They hampered market efficiency. They were instrumental in enhancing mark
In the short run, a firm in a monopolistically competitive market operates much like what type of firm? U a perfectly competitive firm an oligopoly firm O a monopoly O a duopoly
When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different. For competitive firms and monopolistically competitive firms, the cost curves are similar but the revenue curves are quite different. For monopoly firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different For monopoly firms and monopolistically competitive firms, the cost curves are similar but the revenue curves are quite different
Figure 16-3 MC ATC Refer to Figure 16-3. Which of the graphs shown would be consistent with a firm in a monopolistically competitive market that is earning a positive profit? panel (a) panel (b) O panel (e) O panel (d)
Figure 16-1 Lines in the figures below reflect the potential effect of entry and exit in a monopolistically competitive market on the demand and/or marginal-cost curves of incumbent firms. Refer to Figure 16-1. Panel (d) in the set of figures shown depicts the effect on incumbent firms of which circumstance? u long-run economic losses U a decrease in the diversity of products offered in the market U new entrants in the market existing firms exiting the market
What did Edward Chamberlin argue about brand names? They hampered market efficiency. They were instrumental in enhancing market efficiency They were useful in enhancing market efficiency when the government enforced the use of exclusive trademarks. They were likely to be more socially efficient when used in conjunction with advertising.
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Answer #1

1) C. In case of monopolistic and monopoly, both in short run firm produces at a point where marginal revenue=marginal cost and price>MC.

2)C. Both monopolistic and monopoly firm revenue curve is same but cost curve is different because I’m both the market structure, more quantity can be sold only by reducing price.

3)C. In diagram C, firm produces at a point where marginal revenue=marginal cost and price>ATC due to which firm can earn positive profit

4) C. When new firms enter the market, the demand curve decreases and shifts to the left.

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