Question

All creative objects like songs, paintings, movies, and sculpture art are... a) monopolistic competition b) perfect...

All creative objects like songs, paintings, movies, and sculpture art are...

a) monopolistic competition

b) perfect competition

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

(a) monopolistic competition is the correct option.

Because if we see the properties of monopolistic competition in the market, there are many firms in the market and no one single handedly controls the price, they make differentiated goods i.e. same good but of different types and qualities, price are generally high, the prices are generally in control of the firms and there are barriers on entry and exit to market. All the properties mentioned above are related to the market of the creative objects.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A. What are the main theoretical differences between perfect competition and monopolistic competition? B. Analyze the...
A. What are the main theoretical differences between perfect competition and monopolistic competition? B. Analyze the relationship between imperfect competition and international trade.
Under perfect competition, the marginal revenue is ____________________ while under monopolistic competition it is _____________________. a)downward...
Under perfect competition, the marginal revenue is ____________________ while under monopolistic competition it is _____________________. a)downward sloping, also downward sloping. b)horizontal, also horizontal c)downward sloping, horizontal d)horizontal, downward sloping
Which of the following features is common to both perfect competition and monopolistic competition? a. An...
Which of the following features is common to both perfect competition and monopolistic competition? a. An individual firm faces a horizontal demand curve. b. New firms are free to enter the market in the long-run. c. Each firm produces a perfectly homogeneous product. d. The firms earn positive economic profit in the long run.
(a) Which market structure, Perfect Competition, Monopoly, or Monopolistic competition, will result in the greatest degree...
(a) Which market structure, Perfect Competition, Monopoly, or Monopolistic competition, will result in the greatest degree of choice between alternate products for consumers? Please give an explanation. (b) In which market structure are firms most likely to advertise? Please explain.
The main difference between perfect competition and monopolistic competition is the number of sellers in the...
The main difference between perfect competition and monopolistic competition is the number of sellers in the market. the ease of exit from the market. the difference in the firm's profits in the long run. the degree of product differentiation. Mutual interdependence occurs when all firms in an industry are affected by the same macro economic conditions, such as a recession, inflation, interest rates, exchange rates, etc. the actions of firms are independent of each other. the actions of one firm...
1. ___________ is a market with substantial barriers to entry. a. Monopolistic competition b. Oligopoly c....
1. ___________ is a market with substantial barriers to entry. a. Monopolistic competition b. Oligopoly c. Perfect competition d. Monopoly 2. ______________ are firms that have market structures which sell homogenous products and differentiated products. a. Oligopoly b. Monopoly c. Monopolistic competition d. Perfect competition 3. Which of the following do neoclassical economists assume in all markets? a. The selling price is determined by the individual seller. b. Firms will maximize profits. c. Supply is the only key factor in...
Answer the following questions comparing monopolistic competition to perfect competition. a. In the long run, how...
Answer the following questions comparing monopolistic competition to perfect competition. a. In the long run, how does the profit earned by a firm operating in a monopolistically competitive market compare to the profit the same firm would earn if it were instead operating in a perfectly competitive market?Please explain. b. In the long run, how does the average cost of production for a firm operating in a monopolistically competitive market compare to the average cost of production for the same...
1. Perfect competition results in productive efficiency and allocative efficiency, while monopolistic competition results in ________....
1. Perfect competition results in productive efficiency and allocative efficiency, while monopolistic competition results in ________. A. allocative efficiency, but not productive efficiency. B. productive efficiency, but not allocative efficiency. C. both allocative and productive efficiency. D. neither allocative nor productive efficiency. 2. Which best describes an oligopoly? A. Firms operate without regard to the behavior of competing firms. B. Firms face perfectly elastic demand curves. C. Firms must make decisions based on the behavior or expected behavior of their...
P=AR for A For perfect competition B For a monopoly C For a oligopoly D All...
P=AR for A For perfect competition B For a monopoly C For a oligopoly D All of the above E none of the above PS: What is P and AR?
14. A monopolistic competition firm a. chooses Q based on MR=MC rule b. has an ATC...
14. A monopolistic competition firm a. chooses Q based on MR=MC rule b. has an ATC that is a straight line upward sloping graph c. makes positive economic profit in the long run d. has no idle capacity 13. A market may look like: a. an oligopoly set up made of one firm b. monopolistic competition made of one firm c. monopoly made of one firm d. perfect competition made up of one firm 12. In the case of duopoly...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT