Monopolistic competition is the economic market model with many sellers selling similar, but not identical, products. The demand curve of monopolistic competition is elastic because although the firms are selling differentiated products, many are still close substitutes, so if one firm raises its price too high, many of its customers will switch to products made by other firms. This elasticity of demand makes it similar to pure competition where elasticity is perfect. Demand is not perfectly elastic because a monopolistic competitor has fewer rivals then would be the case for perfect competition, and because the products are differentiated to some degree, so they are not perfect substitutes.
Monopolistic competition has a downward sloping demand curve. Thus, just as for a pure monopoly, its marginal revenue will always be less than the market price, because it can only increase demand by lowering prices, but by doing so, it must lower the prices of all units of its product. Hence, monopolistically competitive firms maximize profits or minimize losses by producing that quantity where marginal revenue equals marginal cost, both over the short run and the long run.
Answer:
The ways to develop a better social network is to:
C. Maximize homophily
D. Invest in relationships that extend your expertise
E. Develop connections with powerful others
Explanation:
Maximizing homophily refers to the tendency to have positive ties with individuals who are similar in socially significant ways. Engaging regularly or hanging out with your kind is a good way to develop better social network.
Investing in relationships that extends your expertise is a proactive way of breaking new grounds and connecting with people that are ahead of you in a cordial manner. More like a mentor-mentee approach.
Developing connections with powerful others opens up the gate to the elite social community which will deepen your social network.
Answer:
Webisodes
Explanation:
Webisodes are a form of series that has episodes aired predominantly on the web. It can be downloaded or streamed, and it can also be aired on normal cable television.
The major characteristic of webisode is its distribution on the internet, and it uses various video streaming websites.
Ford used webisodes to target college students for its Focus brand.
College students use the internet alot so they will have more exposure to the webisodes.
Answer:
For economists is important to avoid political interferance in the monetary policy. Populist governments often use the creation of money to justify their political programs, causing inflation and distortions on the market.
In the last report of FOMC is highlighted the behaviour of market labour and the lower expectations of inflation.
Explanation:
There are two tools commonly used in political economy to finance government programs: taxation and paper currency print. When the central bank is not independent, the government has an incentive to print money to fund their programs, causing inflation. In economic science has been demonstrated that inflation is always caused by monetary phenomena.
