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Q. What do you mean by Legal Monopoly?
Legal Monopoly: Some monopolies are engendered and protected under various laws. Inventors of new processes, devices or articles attain monopoly powers for such inventions under trade mark, patent and copyright laws. There are numerous illustrations oflegal monopoly of medicines. As Professor F.W. Taussing observes in his Principles of Economics, patents and copyrights are the simplest cases of absolute monopoly by law. Though as Professor E.H. Chamberlin points out, these cases would fall more under monopolistic competition than under monopoly.
howw much should the firm produce to maximize its profits
Q. Illustrate about Sales maximisation? The concept that business firms (specifically those operating in the real world) are principally goaded by the aspiration to achieve the
What is the difference between monopoly and perfect competition? Monopoly versus Perfect Competition: 1. Perfect competition is equal to monopoly competition, at the perfe
p=10, TC= 1000+2Q+.01Q^2, Q=?
Cross Elasticity Cross elasticity of demand measures the degree of responsiveness of the quantity demanded of one good (B) to changes in the price of another good (A). It is
what are the examples of the types of elasticity (price,income & cross elaticity
Using the National Output for Calculating National Income A final method which is more direct is the "output method" or the value added approach . This involves adding up
Real Rigidities in the Credit Market How imperfections in the goods markets enable firms to set prices so as to generate price rigidities, e.g., because of countercy
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
Antitrust authorities at the Federal Trade Commission are reviewing your company's recent merger with a rival firm. The FTC is concerned that the merger of two rival firms in the s
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