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cluponka [151]
2 years ago
8

The demand curve for a monopolistically competitive firm is downward sloping because

Business
1 answer:
nikdorinn [45]2 years ago
6 0

The demand curve for a monopolistically competitive firm is downward sloping because the products produced by different firms are not identical.

<h3>What is monopolistic competition?</h3>

A monopolistically competitive firm is a firm where there are many sellers and buyers of differentiated goods. Sellers set the price for their goods and services.

In a monopolistic competitive market, there are large number of sellers which are producing similar products or close substitute but the products are different enough that the demand curve for each firm is downward sloping.

Hence, the demand curve for a monopolistically competitive firm is downward sloping because the products produced by different firms are not identical.

Learn more about monopolistic competition here : brainly.com/question/20308723

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Consumer surplus is: the difference between the price of a product and consumers' valuation of the last unit of the product purc
Ipatiy [6.2K]

Answer:

the difference between the price of a product and what consumers were willing to pay for the product.

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.

For example, the highest amount I am willing to pay for a book is $20. The price of the book is $10. My consumer surplus is $20 - $10 = $10

Producer surplus is the difference between the least amount the seller is willing to sell his product and the price of the product.

I hope my answer helps you

8 0
2 years ago
Berry Fields, Inc., employs hundreds of seasonal and permanent workers, both skilled and unskilled, in three states. Under feder
Triss [41]

The correct answer is D; under no circumstances.

Further Explanation:

In the United States, it is against the law for an employer to hire an illegal immigrant. If the employer hires an illegal immigrant knowingly they are breaking the law. Even if the employer does not know they are illegal they are still breaking the law because they need to verify their social security number and work visa with the Immigration office. Every employer has this special system that they use to verify if a person is a legal and documented immigrant.

Undocumented immigrants can apply for a work visa through the Immigration and Naturalization office. They will have to go through a lengthy process and will need to return to their home country while awaiting a decision.

Learn more about undocumented immigrants at brainly.com/question/3814366

#LearnwithBrainly

6 0
2 years ago
Which of the following functions of money enables society to gain the benefits of geographic and labor specialization? store of
grandymaker [24]

Answer:

The correct answer is: medium of exchange.

Explanation:

The medium of exchange function of money that helps the society in gaining the benefits of geographic and labor specialization.  

The medium of exchange function means that money is an asset that is widely accepted as a medium of exchange in the transactions involving the exchange of goods and services.  

The medium of exchange function of money eliminates the need for double coincidence of wants. Thus helps in labor and geographic specialization.

4 0
3 years ago
Araceli is a team member in a large corporation. She never speaks in team meetings because she has seen members talk behind each
Fynjy0 [20]

Answer:

B) Climate of trust

Explanation:

The problem seems to be Climate of trust. This fundamental factor allows teams to perform better than the sum of the performance of each of its members. Through an environment of trust, each member is supported and coached by other team members making individual improvements and increasing synergies within the team. A climate of trust is not exempt from criticism, but this criticism is understood as a helping tool rather than an instrument of personal harm. Finally, a climate of trust allows that errors and mistakes become a useful source of learning.

5 0
3 years ago
When one considers the largest manufacturing organizations in the united states, it is clear that they all have one thing in com
REY [17]

They are all picking the largest manufacturing organizations because they are well known. This manufacturer takes the time to advertise and promote themself where different businesses are aware of who they are and want to use them. By investing in your business and advertising, you have a greater chance of reaching more clients.

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3 years ago
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