What are the profit-maximizing conditions under monopolistic competition in the short-run? What is the Profit maximization Rule for a firm in Perfect Competition? What are the market characteristics of a monopoly? Does a monopoly guarantee a monopolist will make a profit?
These types of monopolies are often short-lived. It is challenging to maintain a technological advantage in the long-run since your competitors will have time to invest in improving their technology. For example, Apple's iPad accounts for 70% to 80% of tablet sales in North America in recent...
Why might a monopoly decide on their own to increase production and lower prices to earn an acceptable profit rather than maximize profits? If a monopoly or a monopolistic competitor raises freir prices, the quantity demanded: (a) will decline in t...
Because the marginal revenue curve for a monopolist lies below its demand curve, the profit maximizing price of the monopolist will be above marginal cost. True or false true. 我們有專家為這個問題所編寫的解答! In the short run, firms earning a profit will want to ___ their profits while...
What are the profit-maximizing conditions under monopolistic competition and monopoly both in the short-run? Explain why monopoly leads to a lower output and higher price than perfect competition? A monopoly firm is currently earning a positive economic profit, and the owner ...
Assume a profit-maximizing firm's short-run cost is TC = 1200 + 7Q^2. If it's demand curve is P = 60 - Q, what is the profit-maximizing quantity? a. 15 b. 14 c. 4 d. 1200 What is the relationship between margi...
What distinguishes pure competition in the long run from pure competition in the short run? Describe an example of a real-world industry or market that would be considered by economists to be a natural monopoly. a) What characteristics of the industry make it a monopoly? b) What is the ...
Explain why a perfectly competitive firm earns profit in the short run but not in the long run compared to a monopoly that earns profit both in the short and long run. Is the monopoly price always higher than the perfect competition market price?
A firm's total cost curve would begin at 0 in the long run; whereas the curve would start at a point above 0 where the firm's total fixed cost is in the short run. True or False? True or false? In a competit...
B. an economic profit, but a monopoly cannot. C. no economic profit, but a monopoly might. D. an economic profit, and so can a monopoly. What are the profit-maximizing conditions under monopolistic competition and monopoly both in the short-run? ...