Repetition, Rhythm and Pattern. Repeating art elements in regular or cyclical fashion to create interest, movement, and/or harmony and unity. Rhythms can be random, regular, alternating, flowing, and progressive.
Success and failure of firms are enabled and constrained by the different rules of the game. Each country has its own rules, it is important for companies to do their homework. Companyies successâ and failure around the globe are largely determined by their environments.
After completing this chapter, students should be able to: List the characteristics of monopolistic competition. Explain how product differentiation occurs in similar products. Determine the profitmaximizing price and output level for a monopolistic competitor in the short run when given cost and demand data. Explain why a monopolistic competitor will realize only normal profit in the long run.