DP Economics Questionbank
Monopolistic competition
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Description
[N/A]Directly related questions
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20N.3.HL.TZ0.1g.ii:
Sketch and label a diagram to illustrate the long-run equilibrium for a firm in monopolistic competition.
- 20N.3.HL.TZ0.1g.i: A shampoo firm is earning economic profits. Outline, with a reason, what will happen to its...
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21M.1.HL.TZ1.2a:
Explain why a monopolistically competitive firm can make economic (abnormal) profit in the short run, but not in the long run.
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17M.3.HL.TZ0.01i:
Using the diagram, explain how long-run equilibrium will be reached.
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17M.3.HL.TZ0.01g:
State two characteristics of monopolistic competition.
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17M.3.HL.TZ0.01j:
With reference to the diagram, outline whether allocative efficiency will be achieved in the long run in a monopolistically competitive market.
- 18N.3.HL.TZ0.1f: Firm B and all the other firms in the tea market begin to sell their tea in distinctive packages...
Sub sections and their related questions
Assumptions of the Model
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17M.3.HL.TZ0.01g:
State two characteristics of monopolistic competition.
Revenue curves
- 18N.3.HL.TZ0.1f: Firm B and all the other firms in the tea market begin to sell their tea in distinctive packages...
Profit maximization in the short run
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21M.1.HL.TZ1.2a:
Explain why a monopolistically competitive firm can make economic (abnormal) profit in the short run, but not in the long run.
Profit maximization in the long run
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17M.3.HL.TZ0.01i:
Using the diagram, explain how long-run equilibrium will be reached.
- 20N.3.HL.TZ0.1g.i: A shampoo firm is earning economic profits. Outline, with a reason, what will happen to its...
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20N.3.HL.TZ0.1g.ii:
Sketch and label a diagram to illustrate the long-run equilibrium for a firm in monopolistic competition.
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21M.1.HL.TZ1.2a:
Explain why a monopolistically competitive firm can make economic (abnormal) profit in the short run, but not in the long run.
Non-price competition
NoneMonopolistic competition and efficiency
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17M.3.HL.TZ0.01j:
With reference to the diagram, outline whether allocative efficiency will be achieved in the long run in a monopolistically competitive market.
