ECO 202
Module 9 - Course Objectives

Monopolistic Competition 
 

15.1  Describe and identify monopolistic competition.

15.2  Explain how a firm in monopolistic competition determines its output and price in the short run and the long run.

15.3  Explain why advertising costs are high and why firms use brand names in monopolistic competition.

Assessment  Method

A.  Do the Self-Test questions in your Study Guide as if they were real exam questions, which means do them without looking at the answers. 

B.  You will learn the most from right answers you had to struggle for, and from your wrong answers and mistakes.  Only after you have attempted all the questions should you look at the answers in your Study Guide. 

C.  When you check your answers, be sure to understand where you went wrong and why the right answer is correct.

Take Self-Test 15.1, Self-Test 15.2, and Self-Test 15.3 in your Study Guide before taking Exam #2.