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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.
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the caseabove.
Why Do Monopolies Exist? Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit
According to J.B. Clark's profits arises in a dynamic economy, not in a static one. A static economy is one in which there is absolute freedom of competition population and capital
Q. Explain about Linear Isoquant? : In this case, isoquant would be straight lines as in Figure below. This type presumes perfect substitutability of factors of production. I
A mother is torn among choosing her son Leonardo and her daughter Meryl to have the last bar of chocolate in her cupboard. As both her children's needs the chocolate and she needs
Hi Could you please help me with " Ramsey pricing in detail " as I have an assignment.
Economics is generally defined as the problem of how best to allocate limited resources, limited because needs are characterized as unlimited, but common sense tells us that rather
Given a saving function of S = -25 + .2Yd, a $10 billion enhance in government spending will bring about how many dollars of change in consumption?
The neo-classical view The neo-classical view is that market forces are the best directors of the economy. Positive attempts by the government it is argued inevitably make th
Concept of Central bank M.H. De Kock concept of central bank is superior to that of others as it is more inclusive. His long definition of central bank includes many of the imp
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