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How are a monopolistic firm and a competitive firm similar?
Monopoly means that there are no competitor for your product or servises
Is it true the demand curve of a monopolistic competitive firm is more elastic than that of a pure monopolist?
YES
Characteristics of a monopolistic competitive market?
one firm which sells a good price set by that firm hard for other firms to enter market
What happens to monopolistic competitive firm that begins to charge an excessive price for its product?
Consumers will substitute with a rival's product.
Dominos fast food firm is a monopolistic firm or not?
it is not a monopoly firm
How are a monopolistic firm and a competitive firm similar?
Monopoly means that there are no competitor for your product or servises
Is it true the demand curve of a monopolistic competitive firm is more elastic than that of a pure monopolist?
YES
Characteristics of a monopolistic competitive market?
one firm which sells a good price set by that firm hard for other firms to enter market
What happens to monopolistic competitive firm that begins to charge an excessive price for its product?
Consumers will substitute with a rival's product.
Dominos fast food firm is a monopolistic firm or not?
it is not a monopoly firm
What is the disadvantage monopolistic competition?
competitive advertising can be wastefull
What are two types of competitive markets?
Monopolistic competition and oligopoly
What companies in the Philippines belong to monopolistic competitive market?
There are many companies into he Philippines that belong to a monopolistic competitive market. These companies include Ayala, SM Prime Holdings and the San Miguel Corporation.
Bob and john are oligopolists in the market for ice cream. If Bob and John engage in a price war will the price of ice cream in their town be closer to Perfectly competitive market or a monopolistic?
Perfectly competitive, because both firms will compete to earn a greater market share (they are "price takers"), leading to prices that more closely resemble a perfectly competitive market than a monopolistic market (one dominant "price making" firm).
Can a monopolistic competitive firm earn long run profit?
In the long run, if a firm is making a profit more firms will enter. This will cause profit to drop. Firms will eventually drop out because of this and economic profit will makes it way to zero(a result of the invisible hand).
One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where -?
perfectly competitive industry become a monopoly， what changes
One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where?
perfectly competitive industry become a monopoly， what changes
