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Explain how oligopolies can work both for and against consumers.
Oligopolies market power can of course work against consumers - as price-setting and any form of collusion will lower consumer welfare. Yet it is also the fact that a lot of oligopolies in fact have to act in accordance with market demand basics and are therefore to a certain extent competitive.
Explain the factors which would affect the price of a good. As there is a very long list of determinants, the basic issue is for the student to describe and illustrate how shif
Diseconomies of Scale A rises in a firm's cost of producing an additional unit as all another factors of production rising. Diseconomies of scale can be caused by poor and ine
suppose the production function is given as:X=b0Lb1Kb2,where b0=level of technology find marginal product of factors(MPL0and MPK) find factor intensity
scope of microeconomics
What is paramagnetic?
Significance of Stagnation in Supply and Demand Calculus Stagnation refers to failures of students in a grade/class or grade repetition. The objective of a course is to make c
Average Product (AP) of a Factor: The productivity of a factor is often seen in terms of its average contribution. Although not very important in the theoretical discussions,
A newspaper recently lowered its price from 50 cents to 30 cents. As it did, the number of newspapers it sold increased from 240,000 to 280,000. i) Over this price range what
When is the economic theory useless? One misunderstanding is to under-estimate the role of an economic theory. Several people thought an economic theory useless since they thin
cual es la minina
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