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3 years ago

A monopolistically competitive firm chooses

Business

1 answer:

makvit [3.9K]3 years ago

6 0

Answer:

D. both the quantity of output to produce and the price at which it will sell its output.

Explanation:

A monpolistically competitive firm chooses the price and the quantity to produce. This decision is guided by market conditions and the goal to maximise profit.

A monopolistic competitive firm has a downward sloping demand curve just like a monopoly, so the monpolistically competitive firm chooses the quantity that maximises its profit and then chooses price.

A downward sloping demand curve indicates that quantity demanded is sensitive to price. The higher the price, the lower the quantity demanded.

A monpolistically competitive firm is a firm that has features of both a monopoly and a competitive firm.

The ability of a monpolistically competitive firm to set prices makes it a price maker.

Just like a monopoly, a monopolistically competitive firm has the following features:

1. It faces of downward sloping demand curve.

2. It sets the price for its products.

Just like a perfect competition, a monopolistically competitive firm has the following features:

1. No barriers to entry or exit.

2. There are many buyers and sellers

Other features of a monpolistically competitive firm are:

1. Firms sell differentiated products

2. Firms engage in non price competition.

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Answer:

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Explanation:

Annuity Due

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2 years ago

Amortization is:Select one:A. The process of allocating to expense the cost of a plant asset to the accounting periods benefitin

Anvisha [2.4K]

Answer:

The correct answer is option B.

Explanation:

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3 years ago

The current sections of Whispering Winds Corp.’s balance sheets at December 31, 2019 and 2020, are presented here. Whispering Wi

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Answer:

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Explanation:

The net cash provided by operating activities is shown below by the cash flow statement extract:

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increase in prepaid expenses($26,700-$25,100) ($1,600)

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2 years ago

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Answer:

yes

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3 years ago

Which of the following terms describes the degree to which members of a work unit share a common demographic attribute, such as

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Answer:

D) Diversity

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2 years ago