Monopolies and competitive markets can be seen throughout Australian society. Monopolies exist when there is a sole supplier selling unique goods (Pass‚ 2005)‚ whereas competitive markets have many buyers and sellers competing against each other. This essay will focus on the difference between monopolies and competition‚ exploring the positive and negative aspects for both. Additionally‚ I will briefly touch on why governments purposely create monopolies in some industries and whether these can be
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1.0 Case Study : Microsoft in India 1. Why does Microsoft’s traditional strategy of one size fits all not work well in emerging markets such as India? There are four main marketing strategies. It can be categorized as Globalization strategy‚ transnational strategy‚ internationalization strategy and localization strategy. As shown in diagram 1.0. Emphasis on local responsiveness high low low
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Arguments on Utilitarianism Which is more valuable: a game of push-pin or the study of Latin? Which has greater worth: the life of a single young girl or the lives of an entire community? These are the sorts of questions raised when dealing with the matter of utilitarianism. According to Jeremy Bentham‚ the father of the theory‚ the ultimate moral goal of human beings should be to increase pleasure and to decrease pain. To maximize the amount of time spent in content‚ and minimize the times of
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Unit 2.3.3 Pure Monopoly Unit 2.3.3 Monopoly Unit Overview 2.3.3 - Monopoly • Assumptions of the model • Sources of monopoly power/barriers to entry • Natural monopoly • Demand curve facing the monopolist • Profit-maximizing level of output • Advantages and disadvantages of monopoly in comparison with perfect competition • Efficiency in monopoly • Price discrimination >>Definition >>Reasons for price discrimination >>Necessary conditions for the practice of price discrimination >>Possible
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Jeremy Bentham was a British philosopher‚ jurist‚ and social reformer. He is regarded as the founder of modern utilitarianism. Bentham sees that man is being governed by two feelings‚ this is pleasure and pain. These determine that which is good and evil for man. These are also the basis of the act of man‚ and these-pain and pleasure would be the fundamentals of the philosophy‚ utilitarianism. The principle of utility "is the action that approves or disapproves an action whatsoever". By the principle
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Dr. Chemene Crawford Date due: 06/03/2006 The Anti-Trust Case against Microsoft Microsoft was founded in 1975 by founder Bill Gates‚ a former Harvard drop out (Lawrence‚ 455). The business grew and controlled 90% of the market for operating systems‚ with revenues of over nineteen billion dollars per year (Lawrence‚ 455). In the nineteen nineties‚ the Internet generation was starting to explode and Microsoft new that it would be a profitable market. This led to their approach to develop
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As per Wikipedia‚ "natural monopoly" is defined as "an industry is said to be a natural monopoly if one firm can produce a desired output at a lower social cost than two or more firmsthat is‚ there are economies of scale in social costs. Unlike in the ordinary understanding of a monopoly‚ a natural monopoly situation does not mean that only one firm is providing a particular kind of good or service. Rather it is the assertion about an industry‚ that multiple firms providing a good or service is
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Week 09 Written Assignment - Monopoly Break-Up Rasmussen College Kristen Cohen Author Note This research is being submitted on December 2‚ 2012 for Julia Walker’s G204/ECO2023 Section 01 Microeconomics - Fall 2012 Monopoly Break-Up Pareto optimal outcome is one such that no-one could be made better off without making someone else worse off. The concept of Pareto optimality occurs in a number of areas of economics. The allocation of resources in an economy
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1 Reasons for inefficiency in monopolies 1.1 Monopolies and pricing A monopoly prices its products where marginal costs meet marginal revenues to maximise profits. Due to the fact that this price is higher than the market price in perfect competition‚ many consumers are not able or willing to buy at the higher price. This deadweight loss is an allocative inefficiency. Figure 1: Pricing in monopolies and perfect competition The consumer surplus in perfect competition is 1+2+4‚ and
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| |Large Market Share |Growth in Business Population Size | |Talented leaders and employees |Intellectual Property Rights and TRIPS Agreement | |Large Investments in Research and Development |Economic Espionage Act | |Increased Innovation
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