Unit 3: Are Businesses Efficient? Product Markets and Efficiency

Lesson 11a: Monopolistic Competition: Are Businesses Efficient?

Key Problem

Monopolistic Competition - How to find the quantity, price, and profit on a graph   Monopolistic Competition - Long Run Equilibrium and Efficiency

Monopolistic Competition - How to find the quantity, price, and profit on a graph     Monopolistic Competition - Long Run Equilibrium and Efficiency Explain why Monopolistically Competitive firms earn zero economic profits in the long run Draw the long run equilibrium graph for Monopolistic Competition Discuss the efficiency of Monopolistically Competitive firms in the long run and show on the graph. - allocative efficidncy - productive efficiency HOME Lesson 11a