Monopolistic competition-beware the too-easy answer

Assignment Help Microeconomics
Reference no: EM132512042

Monopolistic Competition - Beware the Too-Easy Answer

The city of Summerfell initially allows only one Pizzeria to operate. The existing monopolist sells 3,000 pizzas per day, and faces the horizontal portion of the long-run average cost curve at an output of about 1,000 pizzas per day. Suppose the city eliminates the entry restrictions. Predict the equilibrium number of pizzerias and draw the diagrams/graphs to illustrate. (Beware the too easy to be correct answer).

Reference no: EM132512042

Questions Cloud

What are the money markets and what are the capital markets : What are the money markets and what are the capital markets? How do they differ? What are their respective activities? Justify your answer.
What is the depreciation expense under straight line : Asume the asset produced 13,000 units. What is the depreciation expense under the units of production method? What is the book value at the end of year 2?
Why is it important for paralegal or legal professional : Why is it important for a paralegal or legal professional to be adept at writing, research, and analysis?
ITECH2304 Emerging Information Systems Assignment : ITECH2304 Emerging Information Systems Assignment Help and Solution - Federation University, Australia - Assessment Writing Service - Report & Presentation
Monopolistic competition-beware the too-easy answer : The city of Summerfell initially allows only one Pizzeria to operate. The existing monopolist sells 3,000 pizzas per day, and faces the horizontal portion
What is anticipated price of stock after reverse stock split : What is the anticipated price of the stock after the reverse stock split? (Do not round intermediate calculations and round your answer to 2 decimal places.)
Horizontal portion of long-run average cost curve : Can you explain to me what exactly is the horizontal portion of long-run average cost curve at an output of X in monopoly?
What adjustments would be made to eps and the stock price : What adjustments would be made to EPS and the stock price? (Assume the P/E ratio remains constant.) (Do not round intermediate calculations)
Responsible for transforming acting filaments : Explore all the forms and functions of accessory proteins that are responsible for transforming acting filaments into tight parallel and contractile bundles

Reviews

Write a Review

Microeconomics Questions & Answers

  Identify the impact of the policy on demand

Summarize the article using at least three economic terms and theories covered in class - Identify the impact of the policy on demand or supply of the good(s) or service(s). Discuss the change(s).

  Compute monopolists profit-maximizing quantity price and

a monopolist has a constant marginal and average cost of 10 and faces a demand curve of qd 1000 - 10p. marginal

  Show the effect on professor smith budget constraint

Assuming that Professor Smith spends the $100 each month at either Alice’s or the club, sketch his budget constraint. Show actual numbers on the axes.

  Explain what happened to the growth rate

In 1961, Charles de Gaulle decided he did not want the French franc to be considered as a second-rate currency, so he chopped two zeros off the value.

  The multiple linear regression model analysisto begin open

the multiple linear regression model analysisto begin open the gretl go to file gt open data gt sample file then open

  Describe how the word bank come into being

Where and how exactly does Prof. Ferguson describe how the word bank come into being. What can we learn from this part of the series for today's economics?

  The steady-state level of capital

If Margaritaville's saving rate doubles from 20 percent to 40 percent, the steady-state level of capital per effective worker and output per effective worker would double.

  Economy is experiencing inflation

If the economy is experiencing inflation, then the most appropriate government policy would be to:

  Government budget surplus leads to current account surplus

Does increasing government budget surplus leads to current account surplus?

  Distinction created by health insurance

An important distinction created by health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pock..

  What is the marginal product of labor

What is the marginal product of labor? Please provide the autheentic solution of this problem.

  The weak preference relations of bob and carol

The weak preference relations of Bob and Carol can be represented by real valued utility functions

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd