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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.
Barriers to entry in pure oligopoly The barriers to entry can be artificial or natural. Artificial Barriers This can be acquired through: State protection throu
State the Traditional demand theory So an over-simplified and the most commonly stated demand function is: Dx = f (PX) thatconnotes that demand for commodity X is the function
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In regards to air pollution, use a diagram to show and explain how the existence of pollution can make the market equilibrium inefficient.
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You have opened your own word processing service. You have already bought a special computer needed for word processing and paid $5,000 for it. However, due to the cost changes in
if market demand is Q= 30 - 3P how do you write the marginal revenue function as a function of Q
A Retention bonus is an incentive paid to a key employee to retain them by a critical business cycle. This could be a transitional period (like mergers and acquisitions) to ensure
Actual income and Full employment income Full employment income (Also called Potential National) is the national income that could be produced when the country's factors of pr
The aim of monopolist is to maximise profit therefore; he would produce that level of output and charge that price which gives him maximum profits. He would be in equilibrium at th
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