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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.
There are three firms in an economy: A, B, and C. Firm A buys $450 worth of goods from firm B and $260 worth of goods from firm C, and produces 260 units of output, which it sells
Bayer Schering Pharma AG, Germany owns the Alka-Seltzer, which was launched in 1931 and was meant for relief of minor aches, pains, inflammation, fever, headache, heartburn, sour s
A critically important criterion that must be considered in evaluating environmental policies is whether they provide strong incentives for people to find new ways to improve ambie
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can a country have a current account deficit and a capital account deficit at the same time?
Solution of the following question The Nigerian president goodluck jonathan has just returned from Germany and the following economic transactions were obtained thus,use the data t
Equilibrium and Disequilibrium In physical sciences, equilibrium is a state of balance between opposing forces or actions. The meaning of equilibrium in economic theory is exa
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The benefits of capitalism are that the governments have limited control over other business, which lets business compete.
The managers of Firm A recommend that Firm A purchase Firm B because the purchase will diversify the business of Firm A. Diversification of risks is a desirable strategy for indivi
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