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Karo-lina-s [1.5K]
1 year ago
9

in the long run, monopolistically competitive firms produce at a level of output that is less than the least cost (minimum atc)

level of output. this is called: g
Business
1 answer:
Alecsey [184]1 year ago
6 0

in the long run, monopolistically competitive firms produce at a level of output that is less than the least cost (minimum atc) level of output. this is called the deadweight loss.

What is monopolistic?
When a large number of businesses provide rival goods or services that are comparable but imperfect substitutes, monopolistic competition exists. A monopolistic competitive industry has low entry requirements, and decisions made by any one firm need not directly affect those of its rivals. The pricing and marketing choices made by the rival companies serve as their points of differentiation. Between a monopoly but also perfect competition, monopolistic competition exists, combines aspects of both, and includes businesses with comparable but distinct product offerings. Sectors with monopolistic competition include those in restaurants, hair salons, household goods, and clothing. Numerous rival businesses compete to sell, market, and price goods like dish soap and hamburgers.

To learn more about monopolistic
brainly.com/question/25717627
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Answer:

firms are worried that frequent price changes would annoy consumers.

Explanation:

A price is said to be sticky when there are resistance in market price to change immediately even when changes in the economy of a particular country entails differing price of products is optimal.

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Hence, prices tend to be sticky because firms are worried that frequent price changes would annoy consumers. This ultimately implies that, price stickiness arises due to the fact that business firm or entity are very much concerned or worried that a frequent change in the price of goods and services would make the consumer annoyed.

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Doe Manufacturing plans to sell 6,000 purple lawn chairs during May, 5,700 in June, and 6,000 during July. The company keeps 15%
lora16 [44]

Answer: 5,745 units

Explanation:

Given that,

Plans to sell:

6,000 purple lawn chairs during May

5,700 in June

6,000 during July

company keeps 15% of the next month's sales as ending inventory

Units should Doe produce during June:

= Sales in June + Ending inventory (15% of July sales) - opening Inventory (15% of June sales)

= 5,700 + 900 - 855

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3 years ago
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