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Why do so many international markets tend towards oligopolist structure?
Definition of oligopoly - few and large firms with market power
a) Advantages of scale (LRAC diagram)
b) New markets - enhanced revenue/profits
c) spread of technology - firms will gain technological edge by merging or acquiring other firms
d) International firms will have access to foreign capital and lower cost factors of production
e) input from foreign markets can advantage the firm elsewhere, i.e. new tastes and preferences can permit the firm to transfer this knowledge to other markets
Variable and Total cost curve * Consequently (from the table which is given): - MC initially decreases with increasing returns 0 through 4 units of output
explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
a) Joan's utility function can roughly be estimated as : U = 60Q 1 3/4 Q 2 2/3 She chooses from two composite commodities Q 1 and Q 2 whose prices per unit are kshs 20
Functions of money in any modern economy: A medium of exchange: Money facilitates the exchange of goods and services because, people exchange the goods and services they produ
Q. Explain Fixed Capital and Flat-Rate Tax? Fixed Capital: Realcapital which is installed permanently in a specific location, including infrastructure, buildings and major eq
#i need a project on this title
Price Elasticity A measure of the change in demand for a product relative to unit changes in the price of the product. If the percentage change in quantity demanded is greater
what is the importance of law of supply
Quality Control: Standards and standardisation, quality systems, certification and inspections, measurement systems, testing laboratories, their accreditation and calibration
Mamun has a weakly income of 600 dollars. Price of chocolate is 5 dollar and price of potato is taka 10. Both are normal goods. Show the income and substitution effect for each of
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