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Monopolistic Competition and Oligopoly:
It was recognized that most industries exhibit the features of monopolistic competition in real-life. However, it must be pointed out that the formal theory of oligopoly to date has not been conspicuously successful.The reason adduced is that it is very difficult to determine precisely how firms will react to the price and output decisions of their rivals.
1. Seller has ample time to adjust to price change. 2. Buyer's response to small price change is significant. 3. Buyers are faced with many options when deciding to make a
Economists view depreciation as capital consumption for them, there are two distinct ways of charging for depreciation (1) the depreciation of equipment must equal its opportunity
For the pizza seller whose marginal, average variable, and average total cost curves are shown in the following diagram, what is the profit-maximizing level of output and how much
Why narrowness of definition of a commodity may influence price elasticity of demand
monetary policy
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Q. Define Economies of Scale? Economies of Scale: Most economic production requires producing firm or organization to make an initial investment (in real capital, in design and
#question.i need help.
Could I have examples of syndicated and organized oligopolies with companies as examples
Island Economy: Consider an economy as a sea with islands of local markets. Each household produces goods and sells them on one and only one of the arrays of these markets. Go
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