If a monopolistically competitive firm is earning positive profits in the short-run, then we would expect more competition to enter the industry assuming there are no barrier to entry in the market. Select one: O True O False

If a monopolistically competitive firm is earning positive profits in the short-run, then we would expect more competition to enter the industry assuming there are no barrier to entry in the market. Select one: O True O False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If a monopolistically competitive firm is earning positive profits in the short-run, then we
would expect more competition to enter the industry assuming there are no barrier to entry in
the market.
Select one:
O True
O False

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Answering all questions compulsory...
i need in words not handwritten or pic
Dear sir or madam, hope you are well. I have a question about economics.Using appropriate diagrams, show a monopolistic and a monopolistically competitive firm whentheir respective markets are in long-run equilibrium. Outline the long-run outcomes in eachmarket with particular attention given to economic profits generated by each firm and themaximisation of total surplus associated with the market.
In the model of monopolistic competition, industry, then we should expect industry. fixed costs; more marginal costs; less marginal costs; more fixed costs; less if an industry has large relative to another firms to operate in a long-run equilibrium of that
true or false Monopolistic firms do not care about profits, their goal is to maximize total revenue.
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