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What is Oligopoly?
Oligopoly is a general market structure. This arises from similar forces that lead to monopoly, except within weaker form. This is an industry along with only a tiny number of producers. A producer into this industry is termed as an oligopolist.
While no one firm has a monopoly, although producers however realize that they can influence market prices, an industry is described by imperfect competition.
Q=5K0.4 L0.6 WHERE K is number of mchine,L s number of labour, price of unit is RM24 & wages og each lanour rm12. the company constraint by it budget rm 1500 per time period. a) co
example problems for the types of pricing
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The optimum output and price level is always determined with the concepts of revenue and costs-the difference in joint or independent production will show in the differences in cos
elasticity concepts occupies a central place in policy formulation explain in details
Explain the concept of externality in economics? Give one example of a positive and a negative externality in Australia.
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production function
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