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

Author Question: Explain what should happen to the demand curve of monopolistically competitive firms as consumers ... (Read 8 times)

mrsjacobs44

  • Hero Member
  • *****
  • Posts: 500
on: Jun 29, 2018
Explain what should happen to the demand curve of monopolistically competitive firms as consumers increasingly perceive their products to be more like commodities. What industrial structure does this lead to?
 
  What will be an ideal response?

Question 2

On a diagram of a production possibilities frontier, economic growth is represented by the slope of the production possibilities frontier.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

TheDev123

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

The demand curves of each monopolistically competitive firm will become more elastic with time and will eventually become perfectly elastic as consumers come to regard the products they produce as homogeneous. This of course leads to a perfectly competitive industry at least in theory.

Answer to Question 2

FALSE


mrsjacobs44

  • Member
  • Posts: 500
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

xiaomengxian

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

A typical ECT sensor temperature versus voltage curve. A typical ECT sensor temperature versus voltage curve.
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
A highway curve of radius 80 m is banked at 45°. Suppose that an ice storm hits, and the ... A highway curve of radius 80 m is banked at 45°. Suppose that an ice storm hits, and the ...
Saturation curve for hemoglobin of humans, llamas, and other mammals. Saturation curve for hemoglobin of humans, llamas, and other mammals.
Video: Burn Animation

For a complete list of videos, visit our video library