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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
The demand curve for oranges is given by the equation P = 5 - Q/200. The supply curve is given by P = Q/800. Q is measured in oranges per day and price is measured in dollars per o
Describing Risk * To measure risk we should know: 1) All the outcomes which are possible. 2) The probability that each outcome will occur. * Interpreting Probability
Q=2h find the marginal point. where q is the quantity of electricity in MW-h and h is the amount of water (in 100s of liters per hour)
Definition of Pareto Optimal Allocation
How does the PED and PES of commodities affect producers in developing countries? Explanation of PED (formulaic) Definition of PED outlining commodities as having lo
types of production function
diffence b/n fixed and variable input
The prevention of major swings in economic activity can be handled most easily by the
Q. Define Credit? Credit:Ability to purchase something without immediately paying for it - through a credit card or bank loan, a mortgage or any other forms of credit. Creation
Reasons for International Trade?
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