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What are the differences between perfect competition and monopoly competition?
Ans) In a monopoly, you are gaining an unfair benefit over any competition because you own so many infrastructures. Monopolies used to be called as trusts, which is why you sometimes hear of Anti-Trust Law violations.
At one time, AT&T owned each phone line, each phone and every piece of phone equipment in the country. They monopolized the industry; how could you compete with them when they owned everything? Likewise, the Post Office has an excellent infrastructure for delivering mail, but they do not have a monopoly due to FedEx and UPS and DHL have all found ways to carve out a healthy piece of the parcel moving business, so though UPS always grumbles about the Post Office, they do OK in competition.
In a Poisson distribution U=4. A) What is the probability that X=2? B) What is the probability that X is 2?
definition, argument to protectionism and argument against protectionisms
Public policies often alter the costs and benefits of private actions. Why is it important for policymakers to consider both the direct and indirect effects of public policies? Sel
state and explain two factors that cause the shifts in the balance of payments curve.
Your local newspaper reports the following: the owners of the New Orleans Sandwich Shop in Seattle, Washington, found that when they priced their hot dogs (reportedly the rolls-roy
Firm effects are more important the industry effects. What does this mean? Can you think of situations where this might not be true?
Index number formulas
An antenna shown in Figure is to be adjusted from its current position to a new desired position by turning a potentiometer at an angle θ i (t) . The potentiometer converts the an
The amount of wealth that households and business desire to hold in the form of money balances is called the 'demand for money'. Individuals and firms have at their command only
Suppose that a security costs $3,000 today and pays off some amount b in one year. Suppose that b is uncertain according to the following table of probabilities: b: $3,000 $3,300 $
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