The most recent popular cell phone to be introduced is the iPhone. Aside from the multiple grammatical errors in the article‚ I found it interesting that there was a situation where there is an extremely high demand for a product but no supply. Due to the lack of sellers in the market‚ it has created an illegal black market monopoly for the iPhone. The legal way to supply cell phones in China involves a monopoly of two state-owned companies that act as cellular operators who demand a profit-share
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Market Structure | NumberofSellers | TypeofProduct | BarrierstoEntry? | DemandCurve | Profit Maximization Condition | Perfect Competition | Many | Homogenous | No | Horizontal (perfectly elastic) | MR = MC | Monopoly | One | Unique | Yes | Downward Sloping | MR = MC | Monopolistic Competition | Many | Differentiated | No | Downward Sloping | MR = MC | Oligopoly | Few | Homogenous or Differentiated | Yes | Downward Sloping | MR = MC | The natural monopoly may be regulated through price‚ profit
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Writing about Literature Reading literature like Beowulf and Emerson’s "Heroism" is just one stop along the way to becoming an English scholar. Writing about literature is a third essential element. In the assignment for this lesson‚ you will synthesize the texts you have read to write a short essay; this means you will combine details from Beowulf and "Heroism" to show your understanding. When writing about what you’ve read‚ you need to consider the general idea of the text and the specific
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Introduction The purpose of this assignment is to apply the concept of microeconomics in analysis of the company that listed in Bursa Malaysia. We are required to select one of the companies that listed in Bursa Malaysia. Described the background and the type of products or services offered by this company. Besides that‚ we need to explain type of market structure that this company can be categorizes into and also explain the characteristics of that market structure. By using the annual report from
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Lectures On Intermediate Microeconomics Kotut c Samwel‚ M. Phil (Economics) Moi University. Chapter one 1.0 Introduction Economics is the science of scarce resource allocation to meet endless human desires. The modern economics science has two major branches i.e. Micro-economics and Macro-economics. Compared to micro-economics Macro-economics is a younger branch of economics. Until the economic depression of 1930s economics was limited to what is
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Microeconomics Week 4 Homework Chapter 6: #4 An explicit cost is the monetary payment a firm must make to an outsider to obtain a resource. An implicit cost is the monetary income a firm sacrifices when it uses a resource it owns rather than supplying the resource in the market. Say you owned a deli shop. Examples of explicit costs would be the salaries of your employees‚ the cost of the building (electricity‚ plumbing‚ etc.) and all the different ingredients and foodstuffs you need to
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Explain briefly how macroeconomics is different from microeconomics. Please give examples. What is economics? Before we start to learn about economics‚ we have to understand that what is the different between macroeconomics and microeconomics. Macroeconomics and microeconomics are the main branches of economics. (Karl E. Case‚ Ray C. Fair and Sharon M. Oster (2012): Principles of Economics‚ 10th ed. Global Edition‚ Chapter 1). And‚ I will describe that with examples. Microeconomics seems likes
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Child protection policy is maintaining child-safeguarding role. Safeguarding means not only protect form harm it is allow keeping children safe from every aspect. ”The (children Act 1989 )allocates duties to local authorities‚courts‚parents and other agencies in the united kingdom‚ to ensure children are safeguarded and their welfare is promoted” “(Every child mater) states that‚ children stay safe from maltreatment‚ neglect‚ violence and sexual exploitation. Keep safe from accidentals injury and
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Microeconomics Topic 6: “Be able to explain and calculate average and marginal cost to make production decisions.” Reference: Gregory Mankiw’s Principles of Microeconomics‚ 2nd edition‚ Chapter 13. Long-Run versus Short-Run In order to understand average cost and marginal cost‚ it is first necessary to understand the distinction between the “long run” and the “short run.” Short run: a period of time during which one or more of a firm’s inputs cannot be changed. Long run: a period of time during which
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violence was pre-planned yet the union denied any conspiracy. The incident is recorded as the worst-ever for Suzuki since the company began operations in India in 1983 and adds to India’s recent incidents of labour disputes turning to violence. Microeconomic Problems of the company The Manesar plant suffered labour disputes with the management. The union had put forth their demands but the company was not ready to compromise. The workers had launched strike in 2011 demanding recognition of a new‚
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