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Monopolistic Competition ,[object Object],Name: Monopolistic Competitors
What is a monopolistic competition? ,[object Object],[object Object],[object Object],[object Object],[object Object]
The Pros and Cons ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Characteristics of Monopolistic Competition ,[object Object],[object Object],[object Object],[object Object]
What do we do? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Examples ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Examples
Monopolistic Competition
What we sell ,[object Object],[object Object],[object Object],[object Object],[object Object]
Summary ,[object Object],[object Object],[object Object],[object Object]

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Monopolistic Competition

Notes de l'éditeur

  1. A firm making profits in the short run will break even in the long run because demand will decrease and average total cost will increase. This means in the long run, a monopolistically competitive firm will make zero economic p rofit . This giv es the amount of influence over the market; because of brand loyalty, it can raise its prices without losing all of its customers.
  2. AR = average revenue MR = marginal revenue MC = marginal cost that crosses both lines AC = average cost -> makes profit
  3. not just ANY shorts and shirts bigger logo and colorful shirts and shorts, not just black, gray and red.