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.
from The Century Dictionary and Cyclopedia. 1  To set in or as in a collet. 2  n. A band or collar; specifically, a small collar or band worn by the inferior clergy of the Roman Catholic Church. 3  n. Among jewelers: Same as culet. 4  n. The ring or flange within which a jewel or a group of jewels is set, as that part of a ring which holds the seal. 5  n.