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(a) Describe how commercial banks determine their output, interest rates and profit levels assuming they act as oligopolies.
(b) To what extent is the above statement a reality? Explain whether commercial banks can collude in the long run to form a cartel and what would be the consequences of such tendency.
PROBLEMS OF USING PER CAPITA INCOME TO COMPARE STANDARD OF LIVING OVER TIME 1) The composition of output may change. e.g. more defence-related goods may be produced and
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what are the instruments variable of marrise''s model?
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In a one-shot game, if you advertise and your rival advertises, you will each earn RM5 million in profits. If neither of you advertises, your rival will make RM4 million and you w
What are terms included in oligopoly? Oligopoly includes: • The meaning of oligopoly, and why it arises • Collusion • Game theory, particularly the concept of the pris
factorsw determining demand
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