This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the most important characteristic of monopolistic competition? How do firms behave ... (Read 61 times)

Zoey63294

  • Hero Member
  • *****
  • Posts: 539
on: Jun 29, 2018
What is the most important characteristic of monopolistic competition? How do firms behave differently from perfect competitors?
 
  What will be an ideal response?

Question 2

In the above graphs a direct relationship is shown by
 
  A) Graph A.
  B) Graph B.
  C) Graph C.
  D) Graph D.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sokh

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Answer to Question 1

Product differentiation is the most important characteristic of perfect competition. Product differentiation generates the downward sloping demand curve that a firm faces. With heterogeneous products, monopolistic competitors will advertise and use sales promotion techniques that perfect competitors would not use.

Answer to Question 2

B


Zoey63294

  • Member
  • Posts: 539
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

vickyvicksss

  • Member
  • Posts: 351
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Examples of structures in which extensive surface area is important for function. Examples of structures in which extensive surface area is important for function.
Cushing’s syndrome. A photograph of a woman with the characteristic facial features of Cushing’s syn Cushing’s syndrome. A photograph of a woman with the characteristic facial features of Cushing’s syn
Climate change is an important vector for human diseases Climate change is an important vector for human diseases
Healthy Eating Behaviors and Weight Gain Are Important Considerations during the Third Trimester Healthy Eating Behaviors and Weight Gain Are Important Considerations during the Third Trimester
Competitive firms and maximization Competitive firms and maximization
Red, fleshy fruits of hawthorn plants (Crataegus) are an important food for cedar waxwings (Bombycil Red, fleshy fruits of hawthorn plants (Crataegus) are an important food for cedar waxwings (Bombycil
Video: What are Taste Receptors? How Does it Work? Animation

For a complete list of videos, visit our video library