Question

When prices in monopolistically competitive markets exceed those in a perfectly competitive equilibrium, this difference is the cost of:?

Answer 1

Hey mate here is ur answer
When prices in monopolistically competitive markets exceed those in a perfectly competitive equilibrium, this difference is the cost of:

product differentiation.

Monopolistic competition always entails:

vigorous price competition.

Monopolistic competition is characterized by:

perfect dissemination of information.

In a monopolistically competitive industry, firms:

offer products that are not perfect substitutes.

The demand curve faced by a firm in a monopolistically competitive industry is:

downward sloping.

In long-run equilibrium, the monopolistically competitive firm will set a price equal to:

average cost

A firm should increase advertising if the net marginal revenue derived is:

greater than the marginal cost of advertising.


Mark as brainliest only if this answer is helpful