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Q. What do you mean by Oligopoly?
Type of market condition that is most appropriate in the today's economy, is oligopoly. It's characterised by mutual interdependence among a few sellers who control total market supply. Oligopoly, thus, takes place when there are just a few sellers. It differs from both monopoly and perfect competition and from monopolist competition. Oligopoly is a market where small group of producers, have substantial control over major portion of market demand, with or without differentiated product.
An Economy consists of two regions, the North & the South. The short-run elasticity of labor demand in every region is -0.5. Labor supply is perfectly inelastic within both regions
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Question 1: Martha National County Club is a golf club in an isolated wealthy community and accepts only females as members. There are 1,000 identical female members of the club an
what is equi marginal concepts?
price output determination under monopoly explain
Determine the concept of Law of demand We have considered numerous factors which fashion the demand for a commodity. As explained the first and most important factor which determ
Meaning The word inflation has at least four meanings. A persistent rise in the general level of prices, or alternatively a persistent falls in the value of money.
The only road connecting two populated islands is currently a freeway. During rush hour, there is congestion because of the heavy traffic. The marginal external cost from congestio
Let Consider the following (familiar) equation which estimates the number of hours of sleep / year that someone gets as a function of hours worked / year (total work), education (
define scarcity and opportunity cost..
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