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unless through government intervention, most of the bars to entry are not effective in
markets of monopolistic competition.
Output restriction if one of the industries of a purely competitive economy in long-run
equilibrium were to become monopolistically competitive, welfare would tend to be reduced
a slight restriction of output and a slight increase in the prices charged for the product.
Efficiency of individual firms there will be some inefficiency of individual firms in the
long-run when entry into the industry is easy; that is, the firm will not be induced to build the
most efficient size of plant nor to operate the one it does build at the most efficient rate of
output.
Range of products available consumers will have a broad range of types, styles, and
brands of particular products from which to choose in market situations of monopolistic
competition.