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Why Do Monopolies Exist?
Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit for the monopolist within the short and long run.
Profits will not persist within the long run unless there is a barrier to entry. It can take the type of:
a. Control and manage of natural resources or inputs,
b. Technological superiority, or
c. Economies of scale,
d. Legal restrictions imposed through governments, comprising patents and copyrights.
Supplementary Reserve, Requirements/Special Deposit If the Central Bank feels that there is too much money in circulation, it can in addition require commercial banks to mainta
Total Cost (TC) This is the sum of fixed costs and variable costs i.e. TC = FC + VC.
what is segmentation
Q. Explain the Shut down point? ShutdownPoint: With MR = MC, firm attains equilibrium at point E where it produces OM amount of the output. To produce this output, firm incur
Keynes and Mitchell Description According to Keynes description, a trade cycle is characterised by alternating expansionary and contractionary wavy movements in the aggregate
Price Elasticity of Supply Price Elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price. The co-efficient of the elasticity of s
PHILLIPS CURVE The Phillips curve, named after A. W. Phillips, describes the relationship between unemployment and inflation. In 1958 Phillips, then professor a
Discuss the importance of dividend decisions
State the Specific Time of demand Demand should be assigned specific time. For instance, it is an incomplete proclamation to state that demand of air conditioners is 4,000 at t
Real and nominal wages Wages are wanted only for what they will buy, real wages being wages in terms of the goods and services that can be bought with them. Nominal wages
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