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Explain how oligopolies can work both for and against consumers.
Oligopolies market power can of course work against consumers - as price-setting and any form of collusion will lower consumer welfare. Yet it is also the fact that a lot of oligopolies in fact have to act in accordance with market demand basics and are therefore to a certain extent competitive.
explain the central problem of economy with production possibility curve?
how does the charging the monoply a specific tax per unit affect the monopoly optmum and 5the welfare of consumer
BUREAUCRACY: M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "off
What types of questions would concern microeconomics, versus macroeconomics? Microeconomics concerns itself with decision-making of individual consumers, firms and other organ
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how to differentiate the exeptional demand and exceptional supply?
what is modern theory
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. the condition for second degree of price
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
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