# 10.1 Monopolistic competition  (Page 16/21)

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Make a case for why monopolistically competitive industries never reach long-run equilibrium.

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TU=3Q2-2Q+4.what is Total utlity maximize?
what is demand
Total utlity=3Q2-2Q+4.what is maximum TU?
Lema
Lema
Where can i find the Quizzes
what is ppf?
production possibility frontier
Alam
the production possibility frontier (PPF) is a curve that illustrates the variations in the amounts that can be produced of two products if both depend upon the same finite resource for their manufacture
Alam
thank you!
Ishimwe
it is the production possibility frontier
Brenda
In perfect competition, some firms make profit, others breakeven and others make losses. Explain
define law of demand and draw demand curve
state that the higher the price of a product the lower the quantity demanded
nonduduzo
what is the price elasticity of demand a unit free measure of the sensitivity of the quantity demand to a price change?
what is normative economics
In normative economics we try to understand whether a mechanism is desirable or not.
not
Mark
consider the market for chocolate chip cookies .suppose there is an increase in the price of cake flour used in the production of chocolate chip cookies . Demonstrate graphically and explain the effects this will have on the equilibrium price and quantity of chocolate chip cookies.
what is price demand?
what is the price demand ?
Alamin
what is cardinal approach?
Alamin
importance of elasticity to an economy
what is elasticity
elasticity refers to the measurement of a percentage change of one economic variable in response to a change in another. Primarily, this percentage change will follow a change in price relative to changes in other factors.
Abdullahi
When desire of goods increases what is the respond of its prices?
Then definitely price of Good will increase, As Demand has direct relation with the price
Alam
Right
abubakar
Qd=200 and Qs=5+2p . find the equilibrium price and quantity
what is mean by 2 p
Alam
as Q is Quantity d for demand and S for supply and what is p stand for
Alam
at equilibrium quantity demand is equal to quantity supply therefore Qd=Q's 200-p=5+2p 200-5=2p+p 195=3p p = 65 thus equilibrium price is equal to 65 and equilibrium quantity is equal to 195
Wani
2 p means price of product is 2
Wani
what is de law of demand
All other things been equal, the law of states that the higher the price of a commodity the higher the quantity demanded. Vice versa
Nancy
the law of demand state that as the price of the goods increase the quantity demand decrease. considering all other factor to be constant.
Zaiveisho
the higher the price,the lesser the demand
Brenda