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Define the term understanding oligopoly.
Understanding Oligopoly;
One possibility when the two companies will engage into collusion, Sellers engage into collusion while they cooperate to increase each others’ profits.
The strongest type of collusion is a cartel, an agreement by various producers which increases their combined profits through telling each one how much to generate.
They may also engage within non-cooperative behavior, avoiding the effects of their actions onto each others’ profits.
Assume that input prices are constant at r = 1, w = 1, with technology which consists of 5 processes having the following properties: Process Inputs Capital (machine hours)
The variance of the OLS estimator is VAR( ^B)=σ 2 /ns 2 x , where s 2 x =£x 2 /x You're hired to estimate and you're going to be paid according to the accuracy of your esti
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show how scarcity and opportunity cost are useful in decisionmaking
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a. Explain why the demand for a particular brand is more elastic than the demand for all cigarettes. If Lucky Strike raised its price by 1% in 1918, was the price elast
#question.meaning of isoquants and its types
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