What are the key factors that determine the profitability of a firm in a monopolistically competitive market?
What will be an ideal response?
A monopolistically competitive firm's profitability depends on its ability to differentiate its products (especially to make them seem more desirable than competitors' products) and to produce its product at a lower average cost than competing firms.
Economics
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Which of the following was not a prominent New Deal reform?
a. Monetary power was decentralized. b. The gold standard was eliminated. c. Implementation of deposit insurance d. Separation of commercial from investment banking
Economics
Cartel members have a collective interest in ____ industry output and a private interest in ____ their own output
a. increasing; increasing b. increasing; decreasing c. decreasing; increasing d. decreasing; decreasing
Economics