What Happens When A Profit Maximizing Firm In A Monopolistically Competitive Market Is In Long Run Equilibrium? When a profit-maximizing firm in a monopolistically competitive market is in long-run equilibrium, price exceeds marginal cost. chosen a quantity of output where average revenue equals average total cost What happens to profit in monopolistic competition in the
What Is Opportunity Cost Explain With The Help Of Production Possibility Curve? PPF is a line on the production possibility curve that show the maximum possible output an economy can produce. 4. Opportunity Cost Opportunity cost is defined as the value of next best alternative ,so opportunity cost measures the sacrifice we make when we
What Is The Difference Between Short Run And Long Run For Perfectly Competitive Firms? In a perfectly competitive market, firms can only experience profits or losses in the short-run. In the long-run, profits and losses are eliminated because an infinite number of firms are producing infinitely-divisible, homogeneous products. What is the difference between short-run and
What Is The Opportunity Cost Of Producing One More Unit Of Food? The marginal cost of a good or service is the opportunity cost of producing one more unit of it. What is the opportunity cost of producing something? The opportunity cost of moving from one efficient combination of production to another efficient combination of
What Is The Opportunity Cost What Is Being Given Up Of Public Transfer Payments? Transfers of income from one pereon or a group to another even though the reciever doesnt provide anything in return. The tax money being spent is the opportunity cost because the people are not getting anything in return for their payments.
Does Monopolistic Competition Have Economic Profit? Does monopolistic competition have economic profit? Companies in a monopolistic competition make economic profits in the short run, but in the long run, they make zero economic profit. Why is there no profit in monopolistic competition? In the long-run, the demand curve of a firm in a monopolistic competitive