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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.
Imagine of these concepts (markets, elasticity, production, costs, market structures). Take one or two of those concepts and use it to examine and understand economic situations o
What is Cyert and March's behavior theory? What are the demerits.
all theory
Q. Explain about Smooth Convex Isoquant? Smooth Convex Isoquant: This kind of isoquant presumes continuous substitutability of capital and labour over a certain range, beyond
game theory matrix dominant strategy
Apprehensions about the future price of law of demand When consumers anticipate a constant rise in the price of a long-lasting commodity, they buy more of it despite the price
An optimum Population Countries are often described as under populated or overpopulated. From the economist's viewpoint these terms do not refer to the population density (i.
Desire for a commodity This validates that a want or a desire doesn't develop into a demand except it is supported by the ability and willingness to acquire it. For example, a
The acme paper company lowers its price of envelopes (1000 count) from $6to $5.40.
Income Elasticity of different consumer goods Commodities Coefficient of income elasticity Impact on expenditure Necessities
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