Monopolistic competition

Q3(a) Using a diagram of a dental practice in monopolistic competition, identify which statement applies to its equilibrium at point E.

Q7(c) Analyse two reasons Uniqlo competed well overseas against rivals like Zara or H&M.

Q7(b) Explain the term monopolistic competition using Bangladesh's garment and textile SMEs.

Q3 Deduce from a Taiwanese street food seller's profit-maximising diagram whether the position is short run, long run or efficient.

Q3(b) Show the short-run profit-maximising position of a luxury brownie maker making losses in monopolistic competition.

Q2 Deduce what a short-run profit-maximising diagram for a Beijing street food vendor shows about efficiency and new entry.

Q2 A Bangkok restaurant under monopolistic competition is shown in long-run equilibrium; decide what the diagram implies about profit and efficiency.

Q2 From the short-run cost and revenue diagram of a monopolistically competitive Mumbai hairdresser, state what output Q1 implies for profit, revenue and average cost.

Q6 Identify the combination of efficiency and profit that best describes a profit-maximising firm in monopolistic competition in the long run.

Q6 A wheat farm operates in monopolistic competition. Identify what applies. (long-run allocative inefficiency / short-run productive efficiency / long-run supernormal profit / short-run allocative efficiency)

Q3 For a hairdressing salon in monopolistic competition in long-run equilibrium, identify what is true. (productively efficient / supernormal profit / allocatively efficient / normal profit)

Q9 How far does perfect competition beat monopolistic competition on efficiency, set in the market for Philippine hotels? A suitable diagram is needed.

Q3(a) Say what makes UK hair and beauty a case of monopolistic competition (no advertising spend / few dominant firms / identical products / easy entry and exit).

Q3(b) Sketch costs and revenues for a monopolistically competitive firm sitting at its long-run equilibrium position.