Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Discover in-depth answers to your questions from a wide network of experts on our user-friendly Q&A platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.
Sagot :
Monopolistically competitive firms are unlikely to:
A. produce where price equals average total cost.
B. charge a higher price than firms in perfect competition.
C. produce a smaller quantity than firms in perfect competition.
D. operate where price equals marginal cost.
E. exit the industry when demand falls below long-run average costs.
The Correct answer is OPTION D.
When several firms provide similar but not identical replacement goods or services, we have monopolistic competition.
An industry with low barriers to entry and little impact from any one company's actions is said to be monopolistically competitive. Companies separate themselves from one another in the market by using price and advertising strategies.
It is called monopolistic competition when multiple businesses sell nearly identical goods. In monopolistic competition, businesses use price and marketing tactics to set themselves apart from rivals. In monopolistic competition, there are few barriers to entry in the form of high start-up costs or other difficulties to new entrants.
To know more about monopolistically competitive firm refer to:
https://brainly.com/question/17241373
#SPJ4
We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.
