Monopolies and monopolistically competitive firms

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Reference no: EM138258

Q1. Suppose you have $7000 in savings when the price index is at 100. If inflation pushes the price level up 10% what will be the real value of your savings

Q2. You want to have $6000 eight years from today to purchase a G. Loomis fishing rod and a Van Staal fishing reel. You expect to earn 9%, on average. How much should you invest today to reach your target in 8 years?

Q3. How do prices, output, and profits differ between monopolies and monopolistically competitive firms? Are there similarities?

Reference no: EM138258

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