Using the assumptions of monopolistic competition, explain why such firms earn no economic profit in the long run. Explain why the demand curve facing a monopolist is less elastic than one facing a firm that operates in a monopolistic...
Why are the monopolist's and the monopolistically competitive firm's demand curves downward sloping while the competitive firm's demand curve is horizontal? Why is the demand curve of the firm under the perfect competition perfectly elastic?
the demand curve is the willingness of consumers to pay for each additional unit. Substitution and Income Effects ■Substitution Effect the substitution effect suggests that when the price of something falls, consumers tend to purchase more of that good. 商品A价格下降,商品B价格不变,则A相对B更便宜...
3. THE DEMAND EQUATION : Product Equilibrium under Monopolistic CompetitionBrems, Hans
Compare and contrast the demand curves of a monopolistically competitive firm, a perfect competitor, and a monopolist. What is the profit-maximizing condition for a monopolist and how is it different from a firm in perfect competition? Explain wh...
a. The analysis of agricultural markets. b. The analysis of pure competition. c. The analysis of monopolistic competition. d. The analysis of oligopoly. 正确答案:D 分享到: 答案解析: Choice "D" is correct. The demand curve for any individual oligopolist is kinked sharply downward. This ...
在完全竞争情况下,demand curve是三线合一MR=AR=P 在不完全竞争(monopolistic competition/oligopoly/monopoly) MR和demand curve 不重合,在纵截距上一样,横截距一半(一阶求导) 当MR=0时,total revenue 最大 Marginal cost(MR) 在讨论成本时,需要分长短期 ...
Monopolistic competition, endogenous markups, and growth Markup variations brought about by changing demand conditions can have a significant impact on the growth dynamics of imperfectly competitive economies: th... Jordi,Galí - 《European Economic Review》 被引量: 121发表: 1994年 Economic Performance...
Monopolistic Competition and General Equilibrium 1.1 Introduction 3 1.2 Interdependence in the objective sense 5 1.3 Subjective versus objective demand functions 7 1.4 Difficulties in the construction of objective demand functions 10 1.5 The role of the Marxian labor value 13 1.6 Pricing modes in ...
The oligopolist faces a kinked‐demand curve because ofcompetitionfrom other oligopolists in the market. If the oligopolistincreasesits price above the equilibrium priceP, it is assumed that the other oligopolists in the marketwill notfollow with price increases of their own. The oligopolist ...