a. A monopolistic competitor, much like a firm in perfect b. Advertising can play a role as an indirect signal of competition, sells its product at a point product quality to customers. where the price is equal to the marginal cost. O false true O true false

In monopolistic competition, a firm has some ability to affect the price for its product because of Select one a. economic profits. b.easy entry and exit. C. many competitors product differentlation.

Business Essentials TRU RED R N H Q5. The figure below shows a monopolistically competitive market for a fictional brand of shampoo called SqueakyKleen. a. What is the price and quantity of SqueakyKleen in the short run? b. What is the efficient price and quantity of Squeaky Kleen? c. Draw the deadweight loss? MC, MR, ATC and Price MC 3 2.5 25 1.5 ATC 0.5 MR D 0 20 40 60 80 100 120 Bottles of shampoo (millions)

a. Compared to pure monopoly and pure competition, monopolistically competitive industries O might have economic profits, they will diminish as competitors enter, and there will be productive inefficiency. O will have economic profits, they will remain constant as competitors enter, and there will be productive efficiency. O will have economic profits, they will diminish constant as competitors enter, and there will be productive efficiency. O might have economic profits, they will remain constant as competitors enter, and there will be productive efficiency.

Price GF EQCBA M OT,L OH, U OH, G MC HIJK Quantity MR ATC AVC Consider the monopolistically competitive firm described in the figure above. The profit maximizing quantity and price are: OH, D OH, S Demand

Do not use chatgpt.

A monopolistically competitive firm in the long run will   a.  have a demand curve above its AC.     b.  have a demand curve tangent to its AC.     c.  operate where excessive profit can be achieved.     d.  have a demand curve below its AC.

What differentiates monopolistic competition from a monopoly?a A seller operating in a monopolistically competitive market no longar facet a downward-sloping demand curve.b. There are more sellers.c. Firms can enter the market selling similar but not identical productd. (b) and (c)e. all of the above