Suppose that there are 100 firms in a monopolistically competitive industry in India and 30 firms in the same monopolistically competitive industry in Bangladesh. If India and Bangladesh engage in international trade, we expect that the total number of firms in this industry: A. will increase. B. will decrease. C. will remain unchanged. D. will first decrease, then increase. E. will first increase, then decrease.

If Amazon sells dozens of similar types of pencils at slightly different prices, we might assume the pencil market is _________. Select one: a. an oligopoly. b. a monopolistically competitive market. c. a monopoly. d. a perfectly competitive market.

Discuss some products and markets that are good examples of Monopolistic Competition.  Like the market structure of perfect competition, monopolistic competition assumes inexpensive entry into the market and thus many small sellers. Like the market structure of monopoly, monopolistic competition assumes a downward sloping demand curve. This is because, unlike the identical products found in perfectly competitive markets, the products in monopolistically competitive markets are differentiated and not perfect substitutes for one another. Therefore each monopolistically competitive seller has some degree of brand loyalty and would not lose all of its customers if it slightly raised its price above that of its competition. While not facing perfectly elastic, or horizontal, demand, the monopolistically competitive firm still faces a more elastic demand than the monopolist, whose product has no substitutes.  Give two  examples of markets where there are many choices among products, yet we…

Please consider firms in the following types of markets: Monopolistic Competition Oligopoly Pure Competition Pure Monopoly Check All That Apply The following questions will ask you to check all of the market types that has each characteristic. There may be only one market type or there may be more than one market type for each characteristic. Price is equal to marginal revenue Monopolistic Competition Oligopoly Pure Monopoly Pure Competition Has high barriers to entry Monopolistic Competition Pure Competition Pure Monopoly Oligopoly Charges the lowest price Pure Monopoly Pure Competition Monopolistic Competition Oligopoly Produces the lowest quantity Monopolistic Competition Pure Monopoly Pure Competition Oligopoly Achieves allocative efficiency in the long run equilibrium Monopolistic Competition Pure Competition Oligopoly Pure Monopoly O O O O

1. Suppose we live in a world where the widgets market is a monopolistically competitive market with homogenous firms (i.e. no productivity differences among firms). There are two countries: A and B. In each country, consumer demand for widgets can be written as Q = S x- x (P – P), 30 where n is the number of widget firms, P the price of widget charged by the firm, and P the average price of widget by other firms in the market. Moreover, widget firms in both countries have the same total cost function, which is C = 750 + (5 × Q). It is also given that marginal revenue of each 30Q firm can be written as MR = P – Total demand for widget in country A is SA = 900 and Sg = 1600 in country В. a) Derive the average cost function from the total cost function. What is the marginal cost? b) Calculate the number of firms and the prices of widget in each country when trade is not allowed (that is, calculate na, ng, Pa, PBÌ- c) Calculate the number of firms and the price of widget in the unified…

Attempts 6. Oligopolies This chapter discusses companies that are oligopolists in the market for the goods they sell. Many of the same ideas apply to companies that are oligopolists in the market for the inputs they buy. If sellers who are oligopolists try to increase the price of goods they sell, the goal of buyers who are oligopolists is to try to decrease the prices of goods they buy. Major league baseball team owners have an oligopoly in the market for baseball players. The owners' goal is to keep players' salaries. Keep the Highest/3 True or False: This goal difficult to achieve because baseball players demand more money. O True O False Baseball players went on strike in 1994 because they would not accept the salary cap that the owners wanted to impose. True or False: The owners felt the need for a salary cap to help prevent any team from cheating. O True O False

Firms in a perfectly competitive market are able to produce as many products as they want. How do they determine how many to make? Monopolies can charge as much as they want for a good but what is the tradeoff for the high price they receive? Oligopolies produce at a quantity and price that is different than Perfect Competition and Monopolies, why does this happen? Use graphs to demonstrate your answers to the first two markets and use a duopoly table example for an Oligopoly. **Please don't be too broad** Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure

Which of the following statements is true about the difference between monopoly and monopolistic competition? a.Monopolies always earn positive profits b.Monopolistically competitive firms have no barriers to entry or exit

Suppose than an oligopolist is charging $20 per unit of output and selling 28 units each day. What is its daily total revenue? $ Also suppose that previously it had lowered its price from $20 to $18, rivals matched the price cut, and the firm's sales increased from 28 to 29 units. It also previously raised its price from $20 to $29, rivals ignored the price hike, and the firm's daily total revenue came in at $550. Which of the following is most logical to conclude? The firm's demand curve is (Click to select) < Prev Ne 28 of 50

Discuss why a producer in an oligopolist market ("few" competitors) will pay closer attention to their competitors than a producer in a highly competitive market ("many" competitors).