« previous next »

Author Question: What is the main difference between monopolistic competition and monopolies? What will be an ... (Read 17 times)

sarasara

  • Hero Member
  • *****
  • Posts: 521
on: Jun 29, 2018
What is the main difference between monopolistic competition and monopolies?
 
  What will be an ideal response?

Question 2

In economics, the term equity means
 
  A) economic benefits are distributed fairly.
  B) everyone has an equal standard of living.
  C) the hardest working individuals consume all they want.
  D) only elected officials have high standards of living.


carojassy25

  • Sr. Member
  • ****
  • Posts: 299
Reply #1 on: Jun 29, 2018
Answer to Question 1

The main difference is that under monopolistic competition there are available substitutes and there is competition whereas under monopoly there aren't available substitutes and there are no competitors. Also, there are barriers to entry in monopoly, but no barriers to entry in monopolistic competition.

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

sarasara

  • Hero Member
  • *****
  • Posts: 521
Reply #2 on: Jun 29, 2018
Thank you


carojassy25

  • Sr. Member
  • ****
  • Posts: 299
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

The different types of competition in nature. The different types of competition in nature.
Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen
The difference between mieosis and mitoses The difference between mieosis and mitoses
William Kentridge, History of the Main Complaint. William Kentridge, History of the Main Complaint.
For some Americans, religion is an “easy-going, makes-little-difference” matter, as expressed in ... For some Americans, religion is an “easy-going, makes-little-difference” matter, as expressed in ...
Two ways of treating blocked coronary arteries, the main cause of heart attacks in older adults. Two ways of treating blocked coronary arteries, the main cause of heart attacks in older adults.
Video: Structures that affect circulation - venous return

For a complete list of videos, visit our video library