Consider the following factors : I. Free entry II. Advertising III. Goal of satisfactory profits Which…
Free entry and selling/advertising costs feature in Chamberlin. Satisficing profits belongs to behavioural theories rather than his profit-maximising firm.
Choose your answer
Consider the following factors :
I. Free entry
II. Advertising
III. Goal of satisfactory profits
Which of these are part of Chamberlin’s Monopolistic Competition ?
Answer and explanation
Correct answer B
Free entry and selling/advertising costs feature in Chamberlin. Satisficing profits belongs to behavioural theories rather than his profit-maximising firm.
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UGC NET Economics