« previous next »

Author Question: What is the main difference between monopolistic competition and monopolies? What will be an ... (Read 64 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?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Influence of abiotic factors on competition between T. castaneum and T. confusum. Influence of abiotic factors on competition between T. castaneum and T. confusum.
Spider's main organs Spider's main organs
Example of Index entry with Main Term and indented subterms. Example of Index entry with Main Term and indented subterms.
The distance between the centerline of the main bearing journal and the centerline of the ... The distance between the centerline of the main bearing journal and the centerline of the ...
Difference between Functional and Cross-Functional team Difference between Functional and Cross-Functional team
Sheridan Motors is a car dealership that would like to investigate if there is a difference in ... Sheridan Motors is a car dealership that would like to investigate if there is a difference in ...
Video: Muscle Fatigue and Recovery

For a complete list of videos, visit our video library