hazle3895 hazle3895

30-11-2022
Business

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how can a monopolistic competitor tell whether the price it is charging will cause the firm to earn profits or experience losses?

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smecloudbird17 smecloudbird17

02-12-2022

A monopolistic competition firm will profit if its price is higher than the average total cost, and it will lose if its price is lower than the average total cost.

Monopolistic competition is a type of imperfect competition in which many producers compete against one another but sell products that differ from one another and thus are not perfect substitutes.

A monopoly is a form of imperfect competition in which a seller or producer dominates the market because there aren't any alternatives or rivals. Monopolistic competition is a type of imperfect competition in which multiple sellers compete for market share by differentiating their products.

To know more about Monopolistic competition, click here.

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