Ask Question
BusinessBusiness
6 November, 01:55

A monopolistically competitive market A. is imperfectly competitive, and all imperfectly competitive markets are monopolistically competitive. B. is imperfectly competitive, whereas an oligopolistic market is not imperfectly competitive. C. is not imperfectly competitive. D. is imperfectly competitive, but not all imperfectly competitive markets are monopolistically competitive.

+1
Answers (2)
  1. 6 November, 01:58
    0
    B

    Explanation:

    To answer this question properly, a grasp of what is meant by the technical terms is needed. Firstly we need to understand what a monopolistically competitive market is. In its simplest term, it is a type of market in which many firms sell similar products that are not identical.

    This type of market is one that we can tag as imperfectly competitive. It is imperfectly competitive because the products are only similar, they are not identical. The products would have been perfectly competitive if they had been identical which of course is not the case here. Hence, we can say that a monopolistically competitive market lacks the features that would have make it be a perfect competitive market.

    Now we said an oligopolistic market is not imperfectly competitive. This means we agree to the fact that it is perfectly competitive. In an oligopolistic market, there are a number of firms such that on one firm can keep the other firm from having a significant influence in the market. Hence, simply because a firm would affect the market to a particular extent, we can see that there exists a kind of perfect competition amongst the firms, as each of the firms in the market to an extent have a leverage over the market and cannot be stopped from wielding its influence
  2. 6 November, 02:10
    0
    D. is imperfectly competitive, but not all imperfectly competitive markets are monopolistically competitive.

    Explanation:

    Monopolistic competition may be seen as a variety of competition that determine the characteristics of variety of industries that are familiar to consumers in their day-to-day lives. For instance, restaurants, hair salons, clothing, and consumer electronics are all monopolistic competitive market but not all imperfectly competitive markets are monopolistically competitive.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A monopolistically competitive market A. is imperfectly competitive, and all imperfectly competitive markets are monopolistically ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Consider two goods - one that generates external benefits and another that generates external costs. The actual market outcome woulda. result in a price that is lower than the efficient price for both goods. b.
Answers (1)
Messages that appraise how well individuals and departments are doing their jobs are called: a. job instructions. b. performance feedback. c. implementation of strategies. d. indoctrination. e. practices.
Answers (1)
Many locations require that renters be paid interest on their security deposits. If you have a security deposit of $3,600, how much would you expect to receive in interest per year at 3 percent?
Answers (1)
According to their comparative advantage: a. Wilson should decorate cupcakes and Kendall should decorate cookies. b. Kendall should decorate cupcakes and Wilson should decorate cookies. c.
Answers (1)
If prices are as likely to increase as decrease, why do investors earn positive returns from the market on average?
Answers (1)
New Questions in Business
George failed to pay $5,000 of income tax due with the filing of his return, which was timely filed on April 15th. He waits until June 10th after April 15th to pay the tax. How much will his penalties be?
Answers (1)
On November 1, 2019, Juno, Inc. declared a dividend of $3.00 per share on common stock. Juno, Inc. has 10,000 shares of common stock outstanding and 20,000 shares of preferred stock.
Answers (1)
Fallon Corporation reports net income of $370,000. Accounts Receivable balances at the beginning and end of the year were $40,000 and $48,000, respectively. Beginning and ending Inventory balances were $60,000 and $54,000, respectively.
Answers (1)
An asset was purchased for $60,000 and originally estimated to have a useful life of 10 years with a residual value of $3,000.
Answers (2)
Which of the following is true? A. Both microeconomics and macroeconomics deal with same economic issues of inflation, unemployment and growth. B.
Answers (1)
Home » Business » A monopolistically competitive market A. is imperfectly competitive, and all imperfectly competitive markets are monopolistically competitive. B. is imperfectly competitive, whereas an oligopolistic market is not imperfectly competitive. C.
Sign Up Forgot Password?