act as a monopoly. Collaboration * When two or more oligopolies agree to fix prices or take part in anti-competitive behavior‚ they form a collusive oligopoly. They agreement can be formal or informal. * A formal agreement is a cartel and is generally illegal. OPEC is a legal cartel but it’s signed between countries and not firms. * In an informal agreement‚ the firms behave as a monopoly and choose the output that maximizes output. The diagram would be like the monopoly profit maximize
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Explain the differences between Monopoly and Monopolistic Competition? Monopoly A monopoly implies an exclusive possession of a market by a supplier of a product or a service for which there is no substitute. In this situation the supplier is able to determine the price of the product without fear of competition from other sources or through substitute products. It is generally assumed that a monopolist will choose a price that maximizes profits. Monopolistic Competition Monopolistic competition
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The Diversity Profit Equation Corporate White Paper Written By: Craig B. Clayton‚ Sr. Published By The Diversity Profit Rutgers University - Paper Attached Journal – “The Diversity Factor” Equation dPE This document explains the process of calculating the impact of Diversity and Inclusion efforts on the organizations top line‚ bottom line and pipeline. It was written by Craig B. Clayton‚ Sr. one of the worlds leading experts on D&I and ROI. He holds a process patent on the Diversity
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STRATHMORE UNIVERSITY SCHOOL OF FINANCE AND APPLIED ECONOMICS BSF 1101 ACCOUNTING AND REPORTING 1/INTRODUCTION TO ACCOUNTING 9. NOT FOR PROFIT MAKING ORGANIZATIONS 9.1 Introduction These are organizations that are set up to promote or to cater for the welfare of the members involved and not to make a profit. These include clubs‚ (e.g. professional clubs‚ academic clubs‚ sports clubs)‚ welfare associations and any other societies (charitable institutions). Because these organizations are
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causes of the crisis. Frequently encountered causes include: * Revenue downturn caused by a weak economy * Overly optimistic sales projections * Poor strategic choices * Poor execution of a good strategy * High operating costs * High fixed costs that decrease flexibility * Insufficient resources * Unsuccessful R&D projects * Highly successful competitor * Excessive debt burden * Inadequate financial controls Which stage does your company belong? There are three
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A View of the Resource/Profit Model: A Non-Profit‚ Service Perspective Parents have long pursued what they consider the best education for their child(ren). However‚ horrific events like the April 1999 school shooting massacre at Columbine High School near Denver‚ Colorado or more recently‚ the March 2009 Albertville Technical High School shooting in Winnenden‚ Germany‚ which left several children dead‚ has prompted more and more parents to seek private‚ parochial‚ or Christian school alternatives
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both cost 55 dollars? In the early twentieth century‚ the United States went through one of the most influential changes which impacted economic growth. This change was known as the second economic revolution. This economic growth came with the benefits of abundant resources‚ an increase in labor‚ a growing market‚ and available capital investment. However‚ with all of this growth‚ there were also some setbacks. A huge setback was the over growing power of monopolies (Foner‚ 34 ). “A monopoly is a
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Generally‚ the term cost of production refers to the ‘money expenses’ incurred in the production of a commodity. But money expenses are not the only expenses incurred on the production of a commodity. There are number of services and inputs such as entrepreneurship‚ land‚ capital etc.‚ which are offered by an entrepreneur without changing any price or receiving any payment for them. While computing the total cost of production‚ allowance should be made for such expenses. It is therefore essential
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Cost Theory in Economics A central economic concept is that getting something requires giving up something else. For example‚ earning more money may require working more hours‚ which costs more leisure time. Economists use cost theory to provide a framework for understanding how individuals and firms allocate resources in such a way that keeps costs low and benefits high. 1. Function * Economists view costs as what an individual or firm must give up to get something else. Opening a
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Not for profit organization: A non profit organization (NPO) is an organization that uses surplus revenues to achieve its goals rather than distributing them as profit or dividends. While not-for-profit organizations are permitted to generate surplus revenues‚ they must be retained by the organization for its self-preservation‚ expansion‚ or plans.[3] NPOs have controlling members or a board of directors. Many have paid staffs including management‚ while others employ unpaid volunteers and even
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