{"id":657,"date":"2011-02-08T03:58:07","date_gmt":"2011-02-08T09:58:07","guid":{"rendered":"http:\/\/opengecko.com\/economics\/monopolistic-competition\/"},"modified":"2011-02-08T03:58:07","modified_gmt":"2011-02-08T09:58:07","slug":"monopolistic-competition","status":"publish","type":"post","link":"https:\/\/opengecko.com\/geckoview\/economics\/monopolistic-competition\/","title":{"rendered":"Monopolistic Competition"},"content":{"rendered":"

Here is the IB syllabus requirement for this sub-topic:<\/font><\/p>\n

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Monopolistic competition
\u2022 Assumptions of the model
\u2022 Short-run and long-run equilibrium
\u2022 Product differentiation
\u2022 Efficiency in monopolistic competition<\/font><\/p>\n<\/blockquote>\n

From <\/font>www.reffonomics.com<\/font><\/a> a useful introductory slide on calculating price and quantity under monopolistic competition scenario:<\/font><\/p>\n

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Which then leads to finding profit (from the same site, <\/font>www.reffonomics.com<\/font><\/a>) :<\/font><\/p>\n

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One that is earning a loss:<\/font><\/p>\n

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And one breaking even:<\/font><\/p>\n

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You can access all the resources here: <\/font>Microeconomics by Dick Brunelle and Steven Reff<\/font><\/a> \u2013 full credit to these industrious authors of the presentations above.<\/font><\/p>\n

From <\/font>http:\/\/highered.mcgraw-hill.com<\/font><\/a> (McConnell Brue Economics) we have a useful interactive graph to explore with appropriate questions to solve \u2013 click on the image or title below<\/font><\/p>\n

\u201cExplore: How does a monopolistic competitor respond to a decline in demand in the short run and in the long run?\u201d<\/font><\/a><\/em><\/p>\n

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Now some video resources:<\/font><\/p>\n

econsteve12<\/font><\/strong><\/a> has given us three parts:<\/font><\/p>\n