Hi I'm Aleck, ask me anything...

About me: I’m Smart Aleck, your trusty Answer Bot. I use AI to answer your questions simply and clearly. Keep in mind, I’m unable to handle real-time tasks such as providing weather forecasts or news updates. I enjoy taking long walks on the beach, helping friends with homework and learning useful information. Ask away!

Is monopolistic competition close to monopoly?

What is Monopolistic Competition?

Monopolistic competition is a type of market structure that describes a market situation where there are many firms selling a similar but slightly differentiated product. This market structure is in between a pure monopoly and a perfectly competitive market. The firms in a monopolistic competitive market have some degree of market power and can influence the price of their products. As a result, firms can earn economic profits in the short run, but the profits are not sustainable in the long run.

How is Monopolistic Competition Different from a Monopoly?

A monopoly is a market structure in which there is one seller of a good or service, and the seller has complete control over the price of the good or service. Monopolistic competition is different from a monopoly in that there are multiple firms in the market, and each firm has some degree of control over the price of the product. The firms compete with each other based on price and product differentiation.

Are Monopolistic Competition and Monopoly Closely Related?

Monopolistic competition and monopoly are considered to be two distinct market structures, but they are related in that they both involve some degree of market power. In a monopoly, the single seller has complete control over the price of the good or service, while in a monopolistically competitive market, the firms have some degree of control over the price. Monopolistic competition is closer to a perfectly competitive market than a monopoly, though, as the firms in a monopolistically competitive market have to compete on price and product differentiation.

Related Questions

What are the characteristics of monopolistic competition?
What are the advantages and disadvantages of monopolistic competition?
What are the effects of monopolistic competition on consumer surplus?
What are the effects of monopolistic competition on producer surplus?
What are the implications of monopolistic competition for public policy?
What are the implications of monopolistic competition for pricing strategies?
What is the difference between monopolistic competition and oligopoly?
What are the effects of monopolistic competition on product quality?
What are the implications of monopolistic competition for innovation?
What are the implications of monopolistic competition for employment?

Recent Questions

A decrease in aggregate supple can lead to: unemployment, demand-pull inflation, cost-push inflation or prosperity . Choose 1 ans

A decrease in aggregate supple can lead to: unemployment, demand-pull inflation, cost-push inflation or prosperity

A decrease in aggregate supple can lead to: unemployment, demand-pull inflation, cost-push inflation or prospeiryy

what does the song bawal na gamot imlpy about drugs

Reasons to buy stock in Union Bank of the Philippines inc.

Features of international public organisation and institutions

Roles of international public administration in international development: Peace, unity, economic cooperation, social mobilization and integration

Administrative processes (management and personnel) of international public administration

Functions, scope, enabling law and independence of international public administration

Organisational structures and forms of International public administration

The Jaguar Bank of Indianapolis (JBI) starts operations on January 1, 2022 issuing equity amounting $100. JBI advertises an annual interest of 4% for its savings deposits, paid annually, and free checking accounts (i.e., no maintenance fee). On the first day of operations, JBI receives a total of $150 as checking deposits and $750 as savings deposits. The bank lends $700 for an annual interest rate of 8%. It purchases treasury bonds worth $150 which earns 5% per annum. JBI maintains $100 at the Fed and keeps the remaining liquidity in cash reserves. Federal Reserve pays 4.5% interest on JBI’s reserve account. However, JBI does not pay interest on checking accounts of its customers. JBI’s operational expenses during its first year of operations is $18 and the corporate tax rate is 25%. Shareholders of JBI receive 10% dividends. A customer withdraws $170 from her savings account. To pay that amount back, the Bank sells its Bonds portfolio for $120 making a loss of $30 and withdraw another $50 from the account at Fed. Find the following. Find equity ratio

The Jaguar Bank of Indianapolis (JBI) starts operations on January 1, 2022 issuing equity amounting $100. JBI advertises an annual interest of 4% for its savings deposits, paid annually, and free checking accounts (i.e., no maintenance fee). On the first day of operations, JBI receives a total of $150 as checking deposits and $750 as savings deposits. The bank lends $700 for an annual interest rate of 8%. It purchases treasury bonds worth $150 which earns 5% per annum. JBI maintains $100 at the Fed and keeps the remaining liquidity in cash reserves. Federal Reserve pays 4.5% interest on JBI’s reserve account. However, JBI does not pay interest on checking accounts of its customers. JBI’s operational expenses during its first year of operations is $18 and the corporate tax rate is 25%. Shareholders of JBI receive 10% dividends. A customer withdraws $170 from her savings account. To pay that amount back, the Bank sells its Bonds portfolio for $120 making a loss of $30 and withdraw another $50 from the account at Fed. Find the following. Find total liabilities

The Jaguar Bank of Indianapolis (JBI) starts operations on January 1, 2022 issuing equity amounting $100. JBI advertises an annual interest of 4% for its savings deposits, paid annually, and free checking accounts (i.e., no maintenance fee). On the first day of operations, JBI receives a total of $150 as checking deposits and $750 as savings deposits. The bank lends $700 for an annual interest rate of 8%. It purchases treasury bonds worth $150 which earns 5% per annum. JBI maintains $100 at the Fed and keeps the remaining liquidity in cash reserves. Federal Reserve pays 4.5% interest on JBI’s reserve account. However, JBI does not pay interest on checking accounts of its customers. JBI’s operational expenses during its first year of operations is $18 and the corporate tax rate is 25%. Shareholders of JBI receive 10% dividends. A customer withdraws $170 from her savings account. To pay that amount back, the Bank sells its Bonds portfolio for $120 making a loss of $30 and withdraw another $50 from the account at Fed. Find the following. Find liabilities

If, with proportional taxes on labor income, there is an equilibrium with a high tax rate, and an equilibrium with a low tax rate, the government should always choose the lower tax rate, as this makes the consumer better off. it is irrelevant what tax rate the government chooses. the economy cannot function. the government should always choose the higher tax rate, as this makes the consumer better off.

When Ellie was younger, she used to buy comic books in a perfectly competitive market, where neither supply nor demand is perfectly elastic or perfectly inelastic. Use this information for all questions with the title “Perfect Comictition”. Assume each question is independent (e.g., whatever happened in prior questions doesn’t apply). You observe that a large supply increase causes a large change in price but a small change in quantity demanded. What could explain this? (Choose one option) (a)Comic expenditure represents a large share of consumer income. (b)Comics are a luxury. (c)Comics have few substitutes. (d) None of the above.

When Ellie was younger, she used to buy comic books in a perfectly competitive market, where neither supply nor demand is perfectly elastic or perfectly inelastic. Use this information for all questions with the title “Perfect Comictition”. Assume each question is independent (e.g., whatever happened in prior questions doesn’t apply). (Perfect Comictition) You observe that a large supply increase causes a large change in price but a small change in quantity demanded. What could explain this? When Ellie was younger, she used to buy comic books in a perfectly competitive market, where neither supply nor demand is perfectly elastic or perfectly inelastic. Use this information for all questions with the title “Perfect Comictition”. Assume each question is independent (e.g., whatever happened in prior questions doesn’t apply). (Perfect Comictition) You observe that a large supply increase causes a large change in price but a small change in quantity demanded. What could explain this? Comic expenditure represents a large share of consumer income. Comics are a luxury. Comics have few substitutes. None of the above.

Graphically present the structure of international public administration

Ratio decidendi

How do you prove the existence of customary law

Differentiate law from morality

Show the following on the PPF diagram below: An increase in quantity of hats made from point C (label D) An increase in technology to make pies (in blue) An increase in hours worked (in red)

Aaron plans to invest $20,000 at the end of Year 1, $44,000 at the end of Year 2, and $53,000 at the end of Year 3. You want to have the same amount of money as Aaron three years from now, but you want to make one lump sum investment today. What amount must you invest today if you both earn 9.7 percent per year, compounded annually?

You expect an investment to return $11,300, $14,600, $21,900, and $38,400 annually over the next four years, respectively. What is this investment worth to you today if you desire a rate of return of 16.5 percent?

Vaughn borrowed $5,000 for five years at an APR of 6.2 percent. The loan calls for equal, annual principal payments. Interest will also be paid annually. What will be her loan payment in Year 2?

Show the following on the PPF diagram below: An increase in quantity of hats made from point C (label D) An increase in technology to make pies (in blue) An increase in hours worked (in red)

: What area(s) represent the seller’s surplus on the figure below? FIG – Seller surplus question

Answer the following regarding opportunity costs and comparative advantage using the table below. Molly’s and Jacob’s Productivity Meals per Hour Web Pages per Hour Molly 3 2 Jacob 1 3 Molly’s comparative advantage Answer 1 Jacob’s opportunity costs of meals (in web pages) Answer 2 Molly’s opportunity costs of meals (in web pages) Answer 3 Jacob’s opportunity costs of web pages (in meals) Answer4 Molly’s opportunity costs of web pages (in meals) Answer 5 .. Jacob’s comparative advantage

Answer the following regarding opportunity costs and comparative advantage using the table below. Molly’s and Jacob’s Productivity Meals per Hour Web Pages per Hour Molly 3 2 Jacob 1 3 Molly’s comparative advantage Answer 1 1/3 Jacob’s opportunity costs of meals (in web pages) Answer 2 3 Molly’s opportunity costs of meals (in web pages) Answer 3 2/3 Jacob’s opportunity costs of web pages (in meals) Answer 4 3 Molly’s opportunity costs of web pages (in meals) Answer 5 Choose… Jacob’s comparative advantage

Answer the following regarding opportunity costs and comparative advantage using the table below. Molly’s and Jacob’s Productivity Meals per Hour Web Pages per Hour Molly 3 2 Jacob 1 3 Molly’s comparative advantage Answer 1 1/3 Jacob’s opportunity costs of meals (in web pages) Answer 2 3 Molly’s opportunity costs of meals (in web pages) Answer 3 2/3 Jacob’s opportunity costs of web pages (in meals) Answer 4 3 Molly’s opportunity costs of web pages (in meals) Answer 5 Choose… Jacob’s comparative advantage

Answer the following regarding opportunity costs and comparative advantage using the table below. Molly’s and Jacob’s Productivity Meals per Hour Web Pages per Hour Molly 3 2 Jacob 1 3 Molly’s comparative advantage Answer 1 1/3 Jacob’s opportunity costs of meals (in web pages) Answer 2 3 Molly’s opportunity costs of meals (in web pages) Answer 3 2/3 Jacob’s opportunity costs of web pages (in meals) Answer 4 3 Molly’s opportunity costs of web pages (in meals) Answer 5 Choose… Jacob’s comparative advantage

Answer the following regarding opportunity costs and comparative advantage using the table below. Molly’s and Jacob’s Productivity Meals per Hour Web Pages per Hour Molly 3 2 Jacob 1 3 Molly’s comparative advantage Answer 1 1/3 Jacob’s opportunity costs of meals (in web pages) Answer 2 3 Molly’s opportunity costs of meals (in web pages) Answer 3 2/3 Jacob’s opportunity costs of web pages (in meals) Answer 4 3 Molly’s opportunity costs of web pages (in meals) Answer 5 Choose… Jacob’s comparative advantage

Answer the following regarding opportunity costs and comparative advantage using the table below. Molly’s and Jacob’s Productivity Meals per Hour Web Pages per Hour Molly 3 2 Jacob 1 3 Molly’s comparative advantage Answer 1 1/3 Jacob’s opportunity costs of meals (in web pages) Answer 2 3 Molly’s opportunity costs of meals (in web pages) Answer 3 2/3 Jacob’s opportunity costs of web pages (in meals) Answer 4 3 Molly’s opportunity costs of web pages (in meals) Answer 5 Choose… Jacob’s comparative advantage

Answer the following regarding opportunity costs and comparative advantage using the table below. Molly’s and Jacob’s Productivity Meals per Hour Web Pages per Hour Molly 3 2 Jacob 1 3 Molly’s comparative advantage Answer 1 1/3 Jacob’s opportunity costs of meals (in web pages) Answer 2 3 Molly’s opportunity costs of meals (in web pages) Answer 3 2/3 Jacob’s opportunity costs of web pages (in meals) Answer 4 3 Molly’s opportunity costs of web pages (in meals) Answer 5 Choose… Jacob’s comparative advantage

Answer the following regarding opportunity costs and comparative advantage using the table below. Molly’s and Jacob’s Productivity Meals per Hour Web Pages per Hour Molly 3 2 Jacob 1 3 Molly’s comparative advantage Answer 1 1/3 Jacob’s opportunity costs of meals (in web pages) Answer 2 3 Molly’s opportunity costs of meals (in web pages) Answer 3 2/3 Jacob’s opportunity costs of web pages (in meals) Answer 4 3 Molly’s opportunity costs of web pages (in meals) Answer 5 Choose… Jacob’s comparative advantage

Answer the following regarding opportunity costs and comparative advantage using the table below. Molly’s and Jacob’s Productivity Meals per Hour Web Pages per Hour Molly 3 2 Jacob 1 3 Molly’s comparative advantage Answer 1 1/3 Jacob’s opportunity costs of meals (in web pages) Answer 2 3 Molly’s opportunity costs of meals (in web pages) Answer 3 2/3 Jacob’s opportunity costs of web pages (in meals) Answer 4 3 Molly’s opportunity costs of web pages (in meals) Answer 5 Choose… Jacob’s comparative advantage

Put the following in order of value that would have a trade occur price buyers valuation and seller valuation

The price of peanut butter increases from $3.50 to $4.00 per jar, and the quantity of jelly demanded falls from 35 jars to 28 jars. Using the midpoint formula, calculate the cross-price elasticity of demand. Report your answer to two decimal places.

The price of peanut butter increases from $3.50 to $4.00 per jar, and the quantity of jelly demanded falls from 35 jars to 28 jars. Using the midpoint formula, calculate the cross-price elasticity of demand. Report your answer to two decimal places.

a commercial forest planted to provide raw material inputs into a wood pulp mill would be viewed by economists as

true or false. in the following hypothetical country, laptops and mobile phones are produced using the country’s resources, if at the resources are used the country can produce the following combination of laptops and mobile phones: the information in the table shows that the opportunity cost of increasing the production of laptops from the loss of the production of mobiles. the opportunity cost of increasing the production of laptops is therefore 18 000 mobile phones.

a friend of yours who owns a flower-selling business has the following opinion about the law of demand: she does not think that the law of demand is valid for red roses because during February when the prices of red roses was very high she sold many more, it therefore seems that there is a positive relationship between the price of red rosed and the quantity demand of it, which of the following is the best response to her argument?

which of the following are characteristics of a firm: 1. it represents the unit that employs factors of production to produce goods and services. 2. the firm could take different forms. 3. the firm largely determines how goods and services are produced.

the diagram below shows an economy’s production possibilities for two goods: airplanes and motor vehicles. use the diagram to answer the question below. with reference to the above production possibilities frontier, we can say that?

the diagram below shows an economys production possibilities for two goods: earplanes and motor vehicles. use the diagram to answer the question below. with reference to the above production possibilities frontier, we can say thta?

is this statement true or false. a small business owns the building in which it operates and therefore pays no rent, this tehen implies that there is no opotunity cost for the business with regard to the building

is this statement true or false. a change in a non-price factor can either increase or decrease the demand for a good or service, when it increases the demand for a good or service, we say that a negative relationship exists between the factors an the demand for goods

a change in a non-price factor can either increase or decrease the demand for a good or service, when it increases the demand for a good or service, we say that a negative relationship exists between the factors an the demand for goods

you are given the following demand schedule for a good or service

the following production possibility curve (PPC) of the land of Oz to answer this question. he land of Oz can only produce yellow bricks or tin, what should happen for the unattainable point, point D to become attainable?

abc ltd has resolved to issue new ordinary shares at the statrt of the next financial year. the issue of the new share by abc ltd should be subject to all the following except

when preparing the statement of financial position of LBM ltd, which line does not fall under current assets?

rent paid for eight months up to 28th February 2010 amounts to R32 000. Since then rent has been increased by 20%, the rent written off as an expense in the income statement for the year ended 30th June 2010 and stated as accrued on the statement of financial position as at that date would be?

which of the following statement about amendments to a comapnys memorandum of incoporation is patently false

identify items that would be classified as financing activities on the statement of cash flow

The owner, Themba Khumalo withdraws money from his bank account and invested R100000 into the business bank account, which of the following is correct regarding this transaction?

which of the group of activities would be classified as investing activities on the statement of cash flow

the year-end trial balance as at 31st march 2011 reports a debit balance of R9 800 in the insurance account. this figure includes R6 000 paid on the 1st January 2011 as insurance for the year ended 31st December 2011. ascertain the amount to be charged in the income statement as insurance for the year end 31st march 2011

the year-end trial balance is at 31st march 2011 reports a debit balance of R9 800 in the insurance account. this figure includes R6 000 paid on the 1st january 2011 as insurance for the year ended 31st december 2011. ascertain the amount to be chargerd in the income statement as insurance for the year end 31st march 2011

staff salary remaining unpaid as as the year end should be accounted for as

inter-quartile