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How might a firm in an oligopolistic market attempt to increase market share?
Explanation of oligopoly; concentration ratio, producer sovereignty
Explanation that oligopolies are often non-price competitive and resulting price rigidity
Use of kinked demand curve to illustrate price rigidity
Explanation of how/why oligopoly firms are interdependent and therefore have an incentive to avoid head-on competition by
a) Collusion
b) Merging
Since oligopoly firms wish to avoid harmful price competition, great effort often goes into R&D, product enhancement, marketing drives, product differentiation
what are the limitations of economies of scale?
1. Explain how the aggregate supply curve for the entire economy can be derived under; i. Classical assumption ii. Keynesian assumption 2. Explain how equilibrium can be a
economic analysis of demand on retailer in ustralia
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what is traditional economy 2 features of traditional economy
What is average revenue and average revenue curve Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
if the Japanese yen appreciates against the U.S. dollar, do the Japanese businesses gain by a decrease in the dollar price of exports to the United States
TC = Q3 – 8Q2 + 68Q + 4, get the median and mode
use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labour on an increase in immigration..
Determine the Returns to Scale Use the following production function and budget constraint to answer the questions below. Q = L + K 1000 = 2L +
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