--%>
Assignment Help - homework help

Monopolistic Competition

Monopolistic Competition:

Monopolistic competition, as the name itself entails, is a blending of monopoly and competition. The monopolistic competition refers to the market condition in which a big number of sellers make goods that are close replacements of one another. The products are similar however not identical. The specific brand of product will have an assembly of loyal consumers. In this respect, each and every firm will have certain monopoly and at similar time the firm has to compete in the market with the other firms as they generate a fair substitute. The necessary features of monopolistic competition are product differentiation and presence of numerous sellers

   Related Questions in Microeconomics

  • Q : Effects of average production costs on

    The economies of scale exist whenever average production costs: (1) Increase as the level of output increases. (2) Drop as the level of output increases. (3) Stay similar as the level of output increases. (4) Drop as the level of output drops.

    Q : Labor Unions Strikes-Picket Lines I

    I have a problem in economics on Labor Unions Strikes-Picket Lines. Please help me in the following question. The striking workers who parade in front of the firm’s facilities carrying signs influence potential customers to boycott the firm&rsqu

    		•
  • Q : Destitute Percentage of Income The

    The percentage of American families that stay put destitute year after year is around: (w) 1 2%. (x) 3 5%. (y) 5 7%. (z) 8 10%. Hello guys I want your advice. Please recommend some views for above Economics problem

    		•
  • Q : Malthusian theory on population What do

    What do you mean by the Malthusian theory on population?

    		•
  • Q : What is revenue deficit in government

    Revenue deficit in government budget: Whenever the revenue expenses of the government is more than the revenue receipts it is termed as revenue deficit Revenue expenditure > Revenue receipts

  • Q : Capital to Labor Ratio When the

    When the capital-to-labor (K/L) ratio raises: (1) capital becomes more productive. (2) the interest payments to capital will raise. (3) the wages to labor will probably reduce. (4) labor productivity should rise. (5) the price of capital increases.

    		•
  • Q : Twenty-one amendment of public polices

    Drive-by shootings by that several groups of beer or liquor distributors or producer attempted to liquidate rival groups largely finished while the: (w) U.S. Constitution was ratified and Whiskey Rebellion which began into 1794 finally finished. (x) 21st amendment to

    		•
  • Q : Charging price by long run operating

    Most monopolists whom continue to operate in the long run are capable to charge a price as: (w) greater than minimum average total costs [ATC]. (x) less than MR. (y) less than marginal costs [MC]. (z) less than which of a pure competitor along with si

    		•
  • Q : Upward-sloping in Law of Supply The law

    The law of supply is graphically exhibited by the supply curve which is: (1) Moving all along the demand curve. (2) Vertical. (3) Upward-sloping. (4) Downward-sloping. Can someone please help me in finding out the

    		•
  • Q : Increases profit of a firm when output

    A firm would raise profits when it: (w) decreased output when MR > MC. (x) expanded output while MR > MC. (y) increased output when MC > MR. (z) shut down since MR = MC. Hello guys I want your advice. Plea

    		•