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Q. What do you mean by Oligopoly?
Type of market condition that is most appropriate in the today's economy, is oligopoly. It's characterised by mutual interdependence among a few sellers who control total market supply. Oligopoly, thus, takes place when there are just a few sellers. It differs from both monopoly and perfect competition and from monopolist competition. Oligopoly is a market where small group of producers, have substantial control over major portion of market demand, with or without differentiated product.
Perfectly Inelastic (Zero Elastic) Supply Supply is said to be perfectly inelastic if the quantity supplied is constant at all prices. The supply curve is a vertical straight
SHORT RUN OUTPUT AND PRICE In monopolistic competition, it's the product differentiation that permits its price without losing sales. Due to brand loyalty consumers will c
plot the demand schedule and draw the demand curve for the data given for marijuana in the case above
Question : i) Consider a discriminating monopolist is selling a product in two separate markets in which demand functions are: P 1 = 6 - Q 1 P 2 = 18 - 2Q 2 The mono
Q. Explain the Leibenstein model? Leibenstein (1966) sees a firm's norms or conventions, dependent on its history of management initiatives, labour relations and other factors
What do you mean by the fiscal policy? What are the instruments of fiscal policy? Briefly comment on India's fiscal policy.
PER CAPITA INCOME AND INTERNATIONAL COMPARISONS Per capita income figures can also be used to compare the standards of living of different countries. Thus if the per capita in
Managerial Economics helps create utility for the Society.
Assignment
State the Fixed factor of production Input level of a fixed factor can't be varied in the short run. Capital falls under the category of fixed factor. Capital alludes to resour
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