The four-firm concentration ratio for audio equipment makers is 30 and for electric lamp makers is 89. The HHI for audio equipment makers is 415 and for electric lamp makers is 2,850. Which of these markets is an example of monopolistic competition? 3, Figure 1 shows the demand curve, marginal revenue curve, and cost curves of Lite and Kool, Inc., a producer of running shoes in monopolistic competition. A. What quantity does Lite and Kool produce? B. What price does it charge? C. What is Lite and Kool”s markup?
