Why demand curve face monopolistically competition
Why is demand curve facing a monopolistically competitive firm probable to be very elastic?
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Answer: This is because the products generated by monopolistically competitive firms are close substitutes to one other. When products are close substitutes to one other the elasticity of demand is high, that is what makes the firm’s demand curve (that is, under monopolistic competition) much elastic.
Table illustrates the average retail price of milk and the Consumer Price Index from the year 1980 to 1998. Q : Farm maximizes profit of producing at When the wholesale price P = $3 per dozen increased, this purely competitive increased farm maximizes profit with producing ___ dozen increased at a total (loss or profit) of $___. (i) zero; loss; $2000. (ii) 2000; loss; $1500. (iii)
When the wholesale price P = $3 per dozen increased, this purely competitive increased farm maximizes profit with producing ___ dozen increased at a total (loss or profit) of $___. (i) zero; loss; $2000. (ii) 2000; loss; $1500. (iii)
Central bank executes the function of a clearing house. Explain how? Answer: Each and every bank keeps cash reserves with central bank. The claims of banks against
Inferior good: It is a good for which, other things equivalent, a rise in income leads to a reduction in demand.
In the long-run, an increase in consumer desire for strawberries is most likely to:
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The demand curve for socket sets from the list below which is least consistent along with the law of demand is: (w) demand curve D1D1. (x) demand curve D2D2. (y) demand curve D3D3
Choosing a statistical Model: A number of problems arise in determining whether the work is truly rigorous or not. It is important to determine whether the model chosen makes theoretical and intuitive sense. <
Along this illustrated linear demand curve, there is: (1) inelastic portion is range a. (2) elastic portion is range b. (3) midpoint is unitarily price elastic. (4) elasticity is constant in each and every ranges. (5) midpoint elasticity becomes infin
At point b, in demonstrated figure the supply curve into this graph is: (w) perfectly elastic. (x) elastic, but not perfectly that why. (y) unitarily elastic. (z) inelastic. Discover Q & A Leading Solution Library Avail More Than 1433089 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1926107 Asked 3,689 Active Tutors 1433089 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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