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Mark-up is the difference between price and marginal cost. There is no mark-up in a perfect competition structure because the price is equal to marginal cost. However, monopolistic competition comes with a product mark-up, as the price is always greater than the marginal cost. Inefficiencies i...
A disadvantage in a Monopolistic Competition is the concerns that the perceived prestige of the brands induces consumers into spending more on the product. This means that the name associated with the product rather than the actual benefits are the driving factor in consumers paying for the product...
This paper investigates the possibility of endogenous fluctuations in the international distribution of economic activities in the presence of increasing returns, monopolistic competition, trade and convex adjustment costs without allowing for any local productive externalities. Using a two-country dynamic gene...
Monopolistic competition differs from perfect competition because in monopolistically competitive markets a. there are barriers to entry. b. all firms can eventually earn economic profits. c. each of the sellers offers a somewhat different product. d. strategic interactions between firms is vitally ...
17.2.3 Monopolistic versus Perfect Competition In this section, we will compare the long-run outcomes of monopolistically competitive markets with competitive markets. We already examined long-run equilibrium in a competitive market in Chapter 14. The two key differences between long-run equilibrium in...
Ottaviano; G.Monopolistic Competition, Trade and Endogenous Spatial Fluctuations.Re- gional Science and Urban Economics.2001.51-77Ottaviano (2001): "Monopolistic competition, Trade and endogenous spatial fluctuation", Regional Science and Urban Economics (31);...
Another way in which monopolistic competition may be socially inefficient is that the number of firms in the market may not be the "ideal" one. That is, there may be too much or too little entry. One way to think about this problem is in terms of the externalities associated with entry...
Differentiation does not always lead to utility; it can also lead to pointless waste. Also typically wasteful is the high level of advertising associated with monopolistic competition, as various competing firms attempt to make clear to consumers the unique benefits of their goods and services. ...
b.Something that is exclusively possessed or controlled:showed that scientific achievement is not a male monopoly. [Latinmonopōlium, from Greekmonopōlion:mono-,mono-+pōlein,to sell; seepel-inIndo-European roots.] mo·nop′o·lismn.