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Andreas93 [3]
3 years ago
14

Do consumers benefit in any way from monopolistic competition relative to perfect​ competition? compared to perfect​ competition

, when a consumer purchases a product from a monopolistically competitive​ firm, the consumer benefits from purchasing a product
a. without coercion from advertising.


b. that is more closely suited to their tastesis more closely suited to their tastes.


c. whose marginal benefit to that consumer equals its marginal cost of production.


d. that is not trademarkedthat is not trademarked.


e. whose price equals marginal costwhose price equals marginal cost.
Business
1 answer:
Vanyuwa [196]3 years ago
3 0

Answer:

B) that is more closely suited to their tastes

Explanation:

In a perfect competition market the products are all similar and homogeneous. Since all suppliers are price takers, they have to produce similar products in order to be able to compete.

In monopolistic competition markets the products offered are different on from another. The products are not homogeneous and sometimes cannot even be considered substitute products.

Therefore there is a chance that a consumer can find more suitable products or services that they like more than others. For example, restaurants are monopolistic competition but you can decide which restaurant you like the most.

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If a team of three workers, each making the U.S. Federal minimum wage, produced these 12 rugs, what would the total labor cost b
sergiy2304 [10]

You need to know how many hours it took these workers to make the rugs to determine the labor cost.

4 0
3 years ago
According to the Mundell–Fleming model, in an economy with flexible exchange rates, expansionary fiscal policy causes net export
maxonik [38]

Answer: Decrease and Increase

Explanation:

According to the Mundell–Fleming model, in an economy with flexible exchange rates, expansionary fiscal policy will cause the net exports to decrease. Expansionary fiscal policy shifts the IS curve rightwards, as a result BOP surplus created in the economy. So, exchange rate decreases to shift the BOP back to its initial position. As a result of lower exchange rate, exports falls. Hence, net exports decreases.

Expansionary Monetary policy will cause the net exports to increases. Expansionary Monetary policy shifts the LM curve rightwards, as a result BOP deficit created in the economy. So, exchange rate increases to shift the BOP back to its initial position. As a result of higher exchange rate, exports increases. Hence, net exports increases.

5 0
3 years ago
What will happen to the firms equilibrium wage rate when the supply of labour decrease from 25 to 15? Explain with the help of d
Tpy6a [65]

Answer:

Wage rate = $960

Explanation:

Supply of labor is the number of hours workers are willing to work at a given real wage rate. When wage rate increases, supply of labor also increases because more people are encouraged as now they can obtain a higher income. When wage rate decreases, labor supply also decreases.

<em><u>View diagram</u></em>

In this case, however, there has been a decrease in supply, causing the supply curve to shift from S to S1. This can be due to many reasons such as migration, increase in minimum working age or increase in interest in education causing more people to study. When the supply of labor falls, there are less people available for work. Thus, demand exceeds supply, causing a shortage. Hence, the pressure causes price, i.e. wage rate to increase. To determine by how much the increase is, cross-multiplication can be used:

At 25 laborers, wage rate is $600 (25 = 600)

At 15 workers, wage rate is X (15 = X)

We now substitute for X, which is the amount by which wage rate will increase.

25 / 600 = 15 / X

Thus, 25X = 9000 (600 x 15)

9000 / 25 = X

X = 360.

Hence, wage rate at 15 laborers is 600 + 360 = $960

3 0
3 years ago
Sorenson’s march 2020 video for marriott employees exhibited characteristics of ________ leadership.
weeeeeb [17]

The sorenson’s video for marriott employees exhibited characteristics of commanding leadership style.

Arne Morris Sorenson is an American hotel executive and served as the hotel president and chief executive officer.

  • Sorenson's style of leadership entails combination of empathy, personal warmth and iron principle attracted deep admiration throughout the corporate world.

Therefore, the sorenson’s video for marriott employees exhibited characteristics of commanding leadership style.

Read more about commanding leadership

<em>brainly.com/question/3222405</em>

5 0
2 years ago
Select the correct answer.
kondor19780726 [428]

Answer:

I went with c

Explanation:

3 0
2 years ago
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