Long Run Pricing and Output for the Monopolistically Competitive Firm. Unlike a monopoly industry, new firms can enter the monopolistically competitive industry. And like a perfectly competitive industry, economic profits attract new firms seeking a share of those profits into the industry.onopolistic Competition and Oligopoly. Characteristics of Monopolistic Competition. We begin our analysis by looking at a model of monopolistic competition. As the name monopolistic competition suggests, the industry shares characteristics of both a perfectly competitive industry and a monopoly.
collet (plural collets) A band, flange, ferrule, or collar, designed to grip and hold a tool or a workpiece under proper control, and usually to release it under control thereafter; such a collet usually is made of a hard, springy material, especially a metal.
Holding the work by one endinvolves gripping the work in one of several types of chucks or collets. Chucksare mounted on the spindle nose of the lathe, while collets usually seat in thespindle. The spindle is mounted in the lathe's headstock, which contains themotor and gear train that makes rotation possible.