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1 year ago

Monopolistically competitive firms are unlikely to _______

Business

1 answer:

Natalka [10]1 year ago

8 0

Monopolistically competitive firms are unlikely to:

A. produce where price equals average total cost.

B. charge a higher price than firms in perfect competition.

C. produce a smaller quantity than firms in perfect competition.

D. operate where price equals marginal cost.

E. exit the industry when demand falls below long-run average costs.

The Correct answer is OPTION D.

When several firms provide similar but not identical replacement goods or services, we have monopolistic competition.

An industry with low barriers to entry and little impact from any one company's actions is said to be monopolistically competitive. Companies separate themselves from one another in the market by using price and advertising strategies.

It is called monopolistic competition when multiple businesses sell nearly identical goods. In monopolistic competition, businesses use price and marketing tactics to set themselves apart from rivals. In monopolistic competition, there are few barriers to entry in the form of high start-up costs or other difficulties to new entrants.

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Social Security Multiple Choice Is a Defined Benefit Pension Plan Is offered by local governments Is an optional Pension Plan Is

worty [1.4K]

Answer:

In simple words, Retired, incapacity, as well as survivor payments are all part of the Social Security program. In its nature, it is very much like a defined benefit pension plan.

Most employees contribute Social Security levies on their income to apply for many of these claims; claimants' advantages are dependent on the wages earner's payments. Aside from that, benefits like Supplemental Security Income (SSI) are dependent on use.

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2 years ago

The substitution bias in the consumer price index refers to the idea that consumers ______ the quantity of products they buy in

dsp73

Answer:

change; over-estimates

Explanation:

Substitution bias refers to a tendency in which economic index numbers don't include information about the changes in consumer spending when they switch expensive products for cheaper ones or buy less units as prices change. This changes are not reflected in the market basket from which the CPI is built which can cause inflation rates to be over-estimated.

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3 years ago

How is creating a report with the report wizard different from creating one with the report button?

pickupchik [31]

The creation of report with the report wizard differs from creating one with the report button because the report wizard allows the user to have more options and flexibility in the design.

<h3>What is a report wizard?</h3>

This refers to the self-service reporting solution that enables users to create business reports quickly and efficiently.

However, the creation of report with the report wizard differs from creating one with the report button because the report wizard allows the user to have more options and flexibility in the design.

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2 years ago

Total surplus with a tax is equal to a. consumer surplus minus producer surplus. b. consumer surplus plus producer surplus plus

anygoal [31]

Answer:

Option (b) is correct.

Explanation:

The total surplus is defined as the sum total of producer surplus and consumers surplus. Total surplus with a tax is defined as the combined total of producers and consumers surplus and tax revenue that is earned by the government of a particular nation.

Consumers surplus = Willingness to pay for the product - Actual amount paid for the product

Producers surplus = Actual amount received for the product - Willingness to accept for the product

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3 years ago

"According to the law of demand, with everything else being equal, the quantity demanded for a good or service will ____________

m_a_m_a [10]

Answer: Decrease

Explanation:

According to the Law of Demand, The quantity demanded for purchase of a commodity inversely varies with the price.

That is to say that "ceteris paribus" ( with everything being equal),When the prices of a particular good go higher, people will buy less of such commodity but will buy more, if the prices of the goods reduces.

We can say demand is elastic if quantity demanded for a commodity decreases with increase in price which will make people choose another lower substitute good eg, detergent, ice cream

Also if quantity demanded does not change much with increase in price , then it is referred to as Inelastic Demand for example necessity commodity such as gasoline.

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3 years ago