Definition: Monopolistic competition is a market structure which combines elements of monopoly and competitive markets. Essentially a monopolistic competitive market is one with freedom of entry and exit, but firms can differentiate their products. Therefore, they have an inelastic demand curve and so they can set prices. However, because there is freedom of entry, supernormal profits will encourage more firms to enter the market leading to normal profits in the long term. A monopolistic competitive industry has the following features: Many firms. Freedom of entry and exit. Firms produce differentiated products. Firms have price inelastic demand; they are price makers because the good is highly differentiated Firms make normal profits in the long run but could make supernormal profits in the short term Firms are allocatively and productively inefficient. Diagram monopolistic competition short run In the short run, the diagram for monopolistic competition is the sa...
On May 4, a 45 year old nomad woman was raped and murdered in Nishat, on the outskirts of Srinagar, while she left to graze her herd. J&k police arrested 4 individual with the help of women's tribal community. Now fast forward to 12th May after chaos on the Frontline and nearby cities, the moral questions arise what is happening? Where are we heading? We talk about other states, the brutal crimes happening thr and states inability to brought justice and now things are happening in our own backyard, the surge of crimes In J&k over past years is alarming and we as citizens hv no idea about it, we let it past like it's none of our business, we are anware about the forcing agents behind the immorality, be it prevalent consumption and sale of Alcohol ,drugs and other immoral norms and woke culture(how unfortunate it is despite being a Muslim majority state still Alcohol is legal while other major states like Gujrat and bihar are Dry, have we forgotten our islamic roots or t...
إِنَّا ِلِلَّٰهِ وَإِنَّا إِلَيْهِ رَاجِعُونَ Indeed, we belong to Allah, and indeed, to Him we...... When a believer dies 🌿seventy thousand angels participate in his funeral🍁 when he enters the grave📿 Munkir and Nakeer come to him and pose questions to him 🍁 they ask him #Who is your god? What is your religion? And who is your prophet? The believer replies: My Lord is Allah, my prophet is Muhammad, and my religion is Islam. At that moment the grave is expanded as far as the eye can see and the foods of Paradise will be brought there for him and the breeze of Paradise will welcome him.❤ It is this, which is mentioned in the Holy Quran: فَأَمَّآ إِن كَانَ مِنَ الْمُقَرَّبِينَ * فَرَوْحٌ وَرَيْحَانٌ وَجَنَّتُ نعِيمٍ 📿 If he is one of those drawn nigh (to Allah) then happiness and bounty and a garden of bliss (shall be his). (56:88-89). ☝وَتَصْلِيَةُ جَحِيمٍ👈 And burning in hell. (56:94) That is, in the hereafter, he would be consigned to Hell. .When the co...
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