Draw an Example of a Firm in Monopolistic Competition That

question 132

Essay

Draw an example of a firm in monopolistic competition that is earning an economic profit. Be sure to label all the curves. Indicate the area that equals the firm's economic profit.

---

Definitions:

Positive Messages

Communications that convey good news, positive feedback, or constructive information.

Audience Compliance

The degree to which a target audience adheres to or follows the directives, suggestions, or instructions provided by a communicator.

Main Idea

The central or most important concept, point, or message that an author or speaker intends to convey.

Justification

The reasoning behind an action or statement that explains why it is reasonable or necessary.