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Author Question: Economists have long debated whether there is a significant loss of well-being to society in markets ... (Read 317 times)

asan beg

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on: Oct 8, 2019

Economists have long debated whether there is a significant loss of well-being to society in markets that are monopolistically competitive rather than perfectly competitive. Which of the following offers the best reason why some economists believe that monopolistically competitive markets benefit consumers despite any loss of well-being?


◦

Although consumers may pay a price greater than marginal cost for a product, the product is produced at the minimum average total cost.


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Although consumers may pay a price greater than marginal cost and the product is not produced at minimum average total cost, they benefit from being able to buy a differentiated product more closely suited to their tastes.


◦

Consumers are better off choosing from a variety of differentiated products, even though product differentiation causes barriers that restrict entry into monopolistically competitive markets.


◦

Consumers pay a price equal to the marginal cost of producing a product, even though it is not produced at the minimum average total cost.

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Marked as best answer by asan beg on Oct 8, 2019

nothere

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Reply #1 on: Oct 8, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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asan beg

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Reply #2 on: Oct 8, 2019
Thank you!


nothere

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Reply #3 on: Oct 8, 2019
Always glad to help...


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