Essays on Senior Citizen

a. False, as in monopolistic competition there are no restrictions for entry, other firms can enter the market easily, and in the long-term period all firms are making 0 economic profit. b. False, as price discrimination involves market segmentation which allows to charge a higher price to the segment with low elasticity. With more firms in the industry, it is harder to negotiate the agreements, moreover, with low entry barriers you cannot keep the high price for too long as such profit attracts potential rivals.

In monopolistic competition firms are trying to differentiate their products and advertisement is the way to achieve the Marketing differentiation.

The firm would operate at point q2 as the market is in the long-run ...

Ethics

Introduction Moral decisions will require moral deliberation and reasoning, which usually take place with particular perspectives, three of which are critically important. These are: virtue ethics, deontology, and utilitarianism. One similarity of these three principles is that they are required for moral decisions making.

Virtue Ethics

Virtue ethics majorly focuses of what makes the character traits of individuals (Slote, 2006). It dictates that a person will act in a certain way not because of the consequences that may come later but rather because it is what a virtuous person is expected to do. Here, the person is responsible for the decision-making ...