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    Monopolistic competition

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    The monopolist and the perfect competitor differ in that:
    they face different demand curves
    the monopolist does not always produce at an output at which MC=MR
    the monopolist is always a large firm
    the monopolist is more efficient

    The monopolist is a(n):
    imperfect competitor and has a horizontal demand curve
    imperfect competitor and has a downward sloping demand curve
    perfect competitor and has a horizontal demand curve
    perfect competitor and has a downward sloping demand curve

    Monopolistic competition differs from perfect completion only with the respect to:
    the number of firms in the industry
    product differentiation
    barriers to entry
    economics of scale

    In the long run in monopolistic competition:
    most firms are making a profit
    the absence of entry barriers ensures that there are no profits
    economics of scale ensure that there are no profits
    most firms are losing money

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    https://brainmass.com/economics/monopolies/monopolistic-competition-380923

    Solution Preview

    Monopolistic competition
    The monopolist and the perfect competitor differ in that:
    they face different demand curves
    (Perfect competitor have horizontal ...

    Solution Summary

    Monopolistic competition is briefly compared to perfect completion.

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