Introduction: Electricity is discovery which human beings lived without for thousands of years‚ but now electricity becomes a daily human need. This discovery has changed the daily life of humans‚ and without it most of the things that we use every day would not work‚ or would never be created. Therefore‚ each country has its own electricity source and sector compete in one market. The most distinctive characteristic of the energy sector in Palestine is the scarcity of locally available resources
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BD103 Microeconomics TUTORIAL Questions on Market Structure Section A – Multiple Choice Q1 Which market model has the least number of firms? (a) Monopolistic competition (b) Perfect competition (c) Monopoly (d) Oligopoly Q2 Perfect competitive firms maximize: (a) Total profits by producing where price exceeds average total cost by the greatest amount (b) Per unit profits by producing where marginal revenue equals marginal cost (c) Total profits by producing where price equals marginal cost (why
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Microsoft Corporation violated the nation’s antitrust laws through predatory and anticompetitive behavior and kept “an oppressive thumb on the scale of competitive fortune‚” a federal judge ruled today” (Brinkley‚ NY Times). Microsoft was creating a monopoly through their software by stifling
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Different types of markets A monopoly is a type of market in which there is only one producer or seller for a product. Therefore‚ the only activity is the business. It is quite hard and limited to gain access to this type of industry because usually‚ one entity has all the rights on a natural resource. Also‚ this type of market can be limited because of the high cost of material‚ or simply because of political‚ social or economical issues. Therefore‚ a monopoly controls all the good or services
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potential to create profits and to survive in a highly competitive industry‚ rival firms have to continuously strive to be innovative to attract and keep customers. # Are monopolies bad? Antitrust laws good or bad? – topic # I’m arguing that monopolies are bad. Antitrust good. # Briefly describing monopoly vs competitive market Monopolies are characterized as a single firm or group of firms that are the sole suppliers of a good or service for which there are no close substitutes. Natural and legal barriers
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Why perfect competition?? Executive Summary This report provides information related to the four main market structures and why perfect competition is the most efficient. Features of four market structures and comparison of monopoly and perfect competition. Perfect completion is most efficient Subject matter Details Conclusions Introduction Market structure is best defined as the organizational and other characteristics of
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uk/current/leisure/2004_5/111004_map.htm Given the above‚ characteristic of a monopolistic competition exist in this industry. The characteristic of monopolistic market is further expanded on Question 2. In this case of UK sportswear market structure is a pure monopoly. There are quite a number of sellers in the industry and therefore many close product substitutes in existence but nevertheless firms like JJB retain some market power. 2. How does the monopolistic market structure exemplified in the article differ
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1a) Explain how the different features of monopolistic competition and oligopoly affect price and output determination in these market structures. Both monopolistic competition (MPC) and oligopoly generally determine price and output based on the profit-maximising condition that marginal cost (MC) equals to marginal revenue (MR). Due to the different features of both monopolistic competition and oligopoly such as the barriers to entry (BTE)‚ which affects the number of sellers as well as market
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restrictive trade practices. This results in the control of monopolies and the consumer interest is thus protected. Monopolistic Trade Practice Practices such as monopolistic trade reflects misuse of one’s power to abuse the terms of production and sales of goods and services in the market. Eliminating competition from the market is the main objective of firms involved in monopolistic trade practice. They take advantage of their monopoly and charge unreasonably high prices. They also deteriorate
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and will get everyone in a loss‚ and therefore‚ they can’t increase their profit. Monopoly Monopoly is the opposite of Perfect Competition. An Organization that does not have to face competition is said to have a monopoly in the market. It may have little outside pressure put on it to be competitive. The monopolist has control over the price‚ quantity and consumer choice. In case of Driving school‚ monopoly structure can be very effective and very profitable in a Driving School or in any industry
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