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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
1. Assume that the market for wheat is perfectly competitive. Suppose the demand curve for wheat is given by: QD = 200 – 2P where QD is the quantity demanded, in bushels, and P i
Why is investment so important in an economy? Define investment as an enhance in capital stock and link this to broad macro issues; future output, enhance in living standards, ta
What are the basis for International Trade?
(a) Increase in technology and productivity take effect in the red bull market use and label a graph to explain the result of this change on each of the following (i) Market Pri
law of diminshining marginal utility
What should be the decent/appropriate growth rate in any country? Answer: A growth rate of among 2-3% is considered normal for mature developed countries; for LICs, 5-7% is
Given that TC=1000+10Q-0.9Q^2+0.04Q^3,,Find the rate of output Q that result in minimum Average variable cost
Compare and contrast the different measures of revenue
what happens when price is fix and there is a change of the supply and demand curve
Why some country saving less and consumption more?
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