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Mrs John Robinson- 'Oligopoly is market situation in between monopoly and perfect competition in which the number of sellers is more than one but is not so large that the market price is not influenced by any one of them'.
Prof. George J. Stigler- 'Oligopoly is a market situation in that a firm determines its marketing policies on the foundation of expected behaviour of close competitors'.
Prof. Stoneur and Hague- 'Oligopoly is different from monopoly on one hand in that there is a single seller, conversely, it differs from perfect competition and monopolistic competition also in that there is a large number of sellers. Or we can say that whiledescribing the concept of oligopoly, we comprise the concept of a small group of firms'.
Prof. Left Witch- 'Oligopoly is a market situation in that there are a small number of sellers and activities of each seller are significant for others'.
So oligopoly is a market situation in that a few firms producing an identical product or the products, that are close substitutes to each other as well as compete with each other.
Indian industry has progressed a lot because of globalization. A lot of development has been seen in Indian industry.
Advantages a. They are less costly to administer because the producers and sellers themselves deposit them with the government. b. If levied on goods with inelastic deman
Using the same simple macro model we developed in Module 2: a. Show what will happen to national income (GDP) if the administration implements another $100 (billion) stimulus s
Features of this system The mixed economy includes elements of both market and planned economies. The government operates and controls the public sector, which typically cons
Discuss whether Indian Consumer goods industry is growing at the cost of future Profitability.
SOME DIFFICULTIES IN MEASURING NATIONAL INCOME National Income Accounting is beset with several difficulties. These are: a. What goods and services to include A
How has quantitative analysis changed the current scenario in the management world today? Focus must be on the business world specifically in the context of Asian Countries.
Is a “perfectly competitive market” an efficient mechanism for the allocation of scarce resources? When it is, explain why. When it is not, document reasons for either inefficient
Why Do Monopolies Exist? Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit
Write on one theory of profit. Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is t
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