Wednesday
July 30, 2014

Homework Help: economics

Posted by bai on Tuesday, November 13, 2007 at 8:40am.

4. Monopolistic Competition markets are characterized by many producers of very similar products. Each producer differentiates the product from the competing brands and tries to make monopoly profits from a small segment of the market that is devoted to that particular brand. The result is a huge selection of brands at widely varying prices given the real differences between the brands. The supermarket provides the many outstanding illustration of this process.

Your assignment is to go to a local supermarket and find a product that fits the description of monopolistic competition and chart the market using the following table. Use products that come in standard sizes or calculate the unit price.

Brand Name Differentiating Characteristic Price



Explain why producers can charge a different price for essentially the same product.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Economics - Among monopoly, oligopoly, Monopolistic competition, and perfect ...
microeconomics - monopoly vs perfect competition - hi, can sum1 help me? wats ...
ECONOMICS - Among perfect competition, monopolistic competition, oligopoly, and ...
economics - How does monopolistic competition differ from pure competition in ...
Micro Economics - In monopolistic competition ______. 1.to maximize profits MR...
Economics - 1.) How do producers use market research to help maximize profits? 2...
Economics - Isn't a monopolistic competitor most likely to earn zero economic ...
microeconomics - among monopoly, oligopoly, monopolistic competition, and ...
microeconomics - 32. Firm X is a typical firm in a market characterized by the ...
Business management class - In general, a person who owns and operates his or ...

Search
Members