Answer:
a. tries to differentiate its product from competitors' products.
Explanation:
A monopolistic competition is when there are many buyers and sellers of heterogeneous goods and services .
An example of a monopolistic competition is a restaurant.
The demand curve for a monopolistic competition is downward sloping which indicates that the demand is elastic.
If in the short run ,a monopolistic competition earns economic profit, in the long run, new firms would enter in the industry wiping out the economic profit. Therefore, in the long run, a monopolistic competition doesn't operate like a monopoly. A monopoly earns economic profit both in the short and long run.
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Entrepreneurs are most likely to give up more equity in their businesses in the <u>startup </u>phase of their companies than in any other.
The practice of obtaining money through the selling of shares is known as equity financing.
Companies raise money because they can need it to pay expenses in the short term or because they have a long-term objective and need money to invest in their expansion.
A firm effectively sells ownership in their business when it sells shares in exchange for money.
Many different forms of equity funding exist, such as an entrepreneur's friends and family, investors, or an initial public offering (IPO).
Private businesses that want to issue new shares of stock to the public must first go through an IPO procedure. A business can raise funds from the general public by issuing public shares.
To learn more about Initial Public Offering (IPO) here
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Answer:
Since a perfectly competitive firm must accept the price for its output as determined by the product’s market demand and supply, it cannot choose the price it charges. Rather, the perfectly competitive firm can choose to sell any quantity of output at exactly the same price. This implies that the firm faces a perfectly elastic demand curve for its product: buyers are willing to buy any number of units of output from the firm at the market price. When the perfectly competitive firm chooses what quantity to produce, then this quantity—along with the prices prevailing in the market for output and inputs—will determine the firm’s total revenue, total costs, and ultimately, level of profits.
Answer:
B) increases in the value of a product to each user, including existing users, as the total number of users rises.
Explanation:
A network effect happens when a product or service gains value because more people are consuming or using it.
The perfect example of network effects are social networks, the larger the quantity of people using them, the more valuable they become for both new and existing users.