Why do some industries' markets fall in monopolistic competition? Explain why monopolies and oligopolies tend to experience economic profits in the long run. What makes a monopolistic competition different from a purely competitive firm? ...
As China has shown by example, countries must determine their own development path, stick to it and then stay the course – not lurch erratically between contradictory policies under donor or populist pressure as several developing nations including Pakistan seem to do. Joe Studwell, How Asia Work...
How do perfectly competitive firms adapt to market changes in the short run? Will firms in a price-taker market be able to earn profits in the long run? Why or why not? What determines profitability? Discuss.Explore our homework questions and answers li...
Each fringe has a marginal cost equal to M How do economies of scale affect the number of firms that will compete in the market? How does the long-run equilibrium for a monopolistically competitive market differ from the long-run equilib...