Business, 22.11.2019 04:31 cadez

Amonopolistically competitive firm chooses
a. the price of the product it sells but market forces determine the quantity it will be able to sell.
b. the price of the product it sells but the quantity of output to produce is agreed upon by all firms in the industry.
c. the quantity of output to produce but the price of the product it sells is determined collectively by all firms in the industry.
d. both the quantity of output to produce and the price at which it will sell its output.

Answers: 3

Show answers

Answers

Answer from: pevin2955

D. both the quantity of output to produce and the price at which it will sell its output.

Explanation:

A monpolistically competitive firm chooses the price and the quantity to produce. This decision is guided by market conditions and the goal to maximise profit.

A monopolistic competitive firm has a downward sloping demand curve just like a monopoly, so the monpolistically competitive firm chooses the quantity that maximises its profit and then chooses price.

A downward sloping demand curve indicates that quantity demanded is sensitive to price. The higher the price, the lower the quantity demanded.

A monpolistically competitive firm is a firm that has features of both a monopoly and a competitive firm.

The ability of a monpolistically competitive firm to set prices makes it a price maker.

Just like a monopoly, a monopolistically competitive firm has the following features:

1. It faces of downward sloping demand curve.

2. It sets the price for its products.

Just like a perfect competition, a monopolistically competitive firm has the following features:

1. No barriers to entry or exit.

2. There are many buyers and sellers

Other features of a monpolistically competitive firm are:

1. Firms sell differentiated products

2. Firms engage in non price competition.

Answer from: Quest

the correct answer would be b, when, queen, calder hall and london.

explanation:

we always capitalize words when a paragraph or sentence is starting, when an important name is used, when a place is being written, or simply when a noun is used, etc. so in this sentence, sentence is starting from 'when', so it will be written in capital letters. secondly, queen is considered to be an important person, so it will also be written in capital letter. next, the name of the town is mentioned, i-e calder hall, which will also be written in capital letters. in the last, city name is being used, 'london', which will also be written in capital letters. so option b is the most appropriate one.

Answer from: Quest

Iwould say the answer is 4.

Another question on Business

Business, 22.06.2019 11:00

Abank provides its customers mobile applications that significantly simplify traditional banking activities. for example, a customer can use a smartphone to take a picture of a check and electronically deposit into an account. this unique service demonstrates the bank’s desire to practice which one of porter’s strategies?

Answers: 3

Answer

Business, 23.06.2019 12:00

Managers at flavors, a restaurant chain, train their employees such that in the absence of employees, someone trained in the same skills can step in and do the job equally well. thus, many modules in training are extensive as they provide employees with details of the skill sets required for different jobs. in practice, this lengthy training program does the company as a well-trained and flexible workforce is at their disposal at all times. the managers at flavors use a) job rotationb) vertical enhancementc) telecommutingd) job sharinge) flextime

Answers: 3

Answer

Business, 23.06.2019 13:30

Which tasks do travel agents and hotel concierges have in common? they both recommend where to eat and handle personal services for tourists. they both process payments and book travel packages for tourists. they both make reservations and provide information for tourists. they both recommend unusual spots to visit and book tour guides for tourists

Answers: 2

Answer

Business, 23.06.2019 14:30

How can improving one’s reasoning skills also improve one’s performance on the job? if one can improve one’s reasoning, one can also improve one’s physical fitness and athletic performance. if one can improve one’s reasoning, one can perform anything. high-performing workers always work reasonable schedules. high-performing workers are able to analyze sophisticated streams of data and solve complex problems.

Answers: 2

Answer

You know the right answer?

Amonopolistically competitive firm chooses
a. the price of the product it sells but market fo...

Questions