Compared to a purely competitive firm in long-run equilibrium, the monopolistic competitor has a higher price and lower output.
<h3>
When a monopolistic competitive firm is in long-run equilibrium?</h3>
Long Run Monopolistic Competition Equilibrium: Over the long run, a company in a market with the monopolistic competition will produce several items at the point where the long-run marginal cost (LRMC) curve crosses the marginal revenue curve (MR). Where the quantity produced lies on the average revenue (AR) curve will determine the pricing.
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What ultimately transpires to a monopolistic rival?</h3>
Long-term economic gains or losses in monopolistic competition will be removed by entry or leave, leaving firms with no economic gains. There will be some excess capacity in a monopolistically competitive business; this could be seen as the price paid for the variety of products that this market structure brings about.
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Prospecting is an activity that is designed to help a real estate broker generate more listings. This can be a time consuming endeavor, but well worth it in the end for brokers. One of the ways to start prospecting is to make cold calls. Before making any cold calls, and have a script ready for each call. This is one of the most effective prospecting methods. Always stick to a schedule and set aside time each day for prospecting. Other prospecting idea's are to update all of your social media accounts, ask for referrals, start a door hanging campaign, and use the website Zillow to find more leads. You can also offer an information session for first time buyers in your area, this will help to meet new people. Always reach out to expired real estate listings and see if they are interested inputting their home back on the market. Many real estate brokers will also sponsor a children's sport team, and at each game introduce yourself to the parents. It also crucial to keep in touch with all of your past clients, this helps build trust. You can send out holiday cards to members of the community to make people know that you do. Prospecting isn't for everyone, but it is the best activity in real estate to generate new leads.
Answer: A - nominal wages are slow to adjust to changing economic conditions
Explanation:
In the short run, the costs of many of the factors used in the production process are fixed. For example labours wage is fixed for a number of years because of labour contracts. Also the raw materials used in the production process have long term agreements that fix their prices.
As a result of factors of production been fixed in the short run, when general price level rises and the cost of production remains constant, profit also rises.
Firms take advantage of this rise in price and increase production and the quantity of aggregate supply increases. This is why the short run aggregate supply curve is upward sloping.
The bag's coloring and design are considered its trade dress.
<h3>
What is a trade dress?</h3>
- The commercial look and feel of a product or service that identifies and distinguishes the source of the product or service are referred to as trade dress.
- It encompasses the different aspects (such as material design and shape) used to package a product or service.
<h3>What is a certification mark?</h3>
- A certification mark is a sort of trademark that is used to show consumers that specific goods and/or services, or the providers of those goods and/or services, have satisfied certain requirements.
<h3>What is a service mark?</h3>
- A "service mark" is a form of trademark that is protected and governed by the Lanham Act.
- Service marks are used to identify and distinguish one individual's or organization's services, even if they are unique, from those supplied by others.
<h3>What is a collective mark?</h3>
- A collective trademark, collective trademark, or collective mark is a trademark owned by an organization that is used by its members to identify themselves with a certain degree of quality or accuracy, geographical origin, or other features specified by the organization.
Therefore, the bag's coloring and design are considered its trade dress.
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