What is a competitor? Competitors are used as bench mark against the product.
A monopolistic competitor's demand curve is less elastic than apure competitor's which is less elastic than a pure monopolist's.
no, it actually faces downward-sloping. 100% sure, just read it in the book.
Monopolistic competitors operate at excess capacity to discourage new firms from going into the industry, i.e, to deter entry. Operating at excess capacity means a firm produces large quantities of goods and at lower prices. This makes it difficult for newly established firms to compete, thus ensuring that the incumbent firm maintains its monopolistic position in the market.
a large number of sellers produce a product or service that is perceived by consumers as being different from that of a competitor but is actually quite similar
Monopoly means that there are no competitor for your product or servises
A monopolistic competitor's demand curve is less elastic than apure competitor's which is less elastic than a pure monopolist's.
no, it actually faces downward-sloping. 100% sure, just read it in the book.
KFC Taco bell mcdonalds Burger King Wendys Chick fill a
Monopolistic competitors operate at excess capacity to discourage new firms from going into the industry, i.e, to deter entry. Operating at excess capacity means a firm produces large quantities of goods and at lower prices. This makes it difficult for newly established firms to compete, thus ensuring that the incumbent firm maintains its monopolistic position in the market.
a large number of sellers produce a product or service that is perceived by consumers as being different from that of a competitor but is actually quite similar
Monopoly means that there are no competitor for your product or servises
Monopolistic Competition
monopolistic status of companies in the Philippines
monopolistic competition
Washington, Wyoming, North Dakota, and Ohio are monopolistic states
There are 4 monopolistic states - North Dakota, Ohio, Washington and Wyoming. Nevada and West Virginia had been monopolistic, but are now private insurance states.
no