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maks197457 [2]
2 years ago
10

How is a monopolistically competitive market similar to a perfectly competitive​ market? A. Producers with market power set thei

r own prices. B. Both have differentiated products with close substitutes. C. There are no restrictions on the entry of new firms. D. Both have homogeneous products with no close substitutes. Which of the following common features do monopolistically competitive markets and monopolies​ share? A. Barriers restrict new firms from entering. B. Consumers with market power set prices. C. Firms face​ downward-sloping demand curves. D. Producers with no market power set their own prices.
Business
1 answer:
Anna [14]2 years ago
4 0

Answer:

c

c

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

An example of monopolistic competition are restaurants  

When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero

If firms are earning negative economic profit, in the long run, firms leave the industry.  This drives economic profit to zero

in the long run, only normal profit is earned

A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.

An example of a monopoly is a utility company

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d

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Answer:

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Explanation:

The computation of the net revenue is shown below:

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We simply first compute the net cash sales after considering the returns and allowances, and net credit sales after considering the discounts, and deduct the ending balance of account receivable

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Tatum Manufacturing recently opened a new facility in Hong Kong. The firm can most likely expect the Hong Kong government to ___
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The finished goods could be sold:

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The role of the Hong Kong government to Tatum Manufacturing Firm in as much they comply with the government regulations and taxes is for the government to ensure that there is fair competition for Tatum Firm with its competitors.

Learn more about a manufacturing firm here:

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Define private equity funds economics. ​
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Agency costs faced by MNCs may be larger than those faced by purely domestic firms because:

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Agency costs faced by MNCs may be larger than those faced by purely domestic firms due to how foreign subsidiary managers raised in different cultures may not follow  uniform goals.

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