Electricity tariff hike from April Published on Tuesday‚ 12 March 2013 11:57 The Chairman of the Public Utilities Commission (PUC) Dr. Jayatissa De Costa has said that the public opinion regarding the proposed tariffs will also be taken into consideration before the price hike is introduced. According to the CEB proposal‚ a home using 40 units of electricity will have to pay Rs.384 instead of the previously paid sum of Rs. 244. 95. Under the new proposal‚ 0-30 units
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Industries are classified into four different market structures. They are perfect competition‚ monopolistic competition‚ oligopoly and monopoly. Each of these has different characteristics regarding the number of firms involved to the type of product they make. Different methods and restrictions are used to maximize profits in all markets of the economy. Brand management and advertising are two tools that firms used to differentiate their products. The main objective of brand management is
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|Dudley College of Technology | |Market Structures | | | |
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SR. NO TOPIC PAGE NO. 1 OLIGOPOLY 3 2 PERFECT COMPETITION 5 3 MONOPOLY 7 4 MONOPOLISTIC 9 5 COMPARISON 11 Oligopoly An Oligopoly is an industry dominated by a few firms‚ e.g. supermarkets‚ petrol‚ car industry etc. The main features of oligopoly: An industry which is dominated by a few firms. Interdependence of firms‚ firms will be affected by how other firms set price and output. Barriers to entry‚ but less than monopoly. Differentiated products‚ advertising is often important Most
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main features of UK Competition Policy is that it tries to stop firms from abusing their dominant market position. Some firms become very successful and powerful within the industry that they are operating in. "European firms suspected of gaining monopoly power through creating barriers to entry‚ colluding over prices‚ or through merger activity‚ can be investigated under European Union law‚" (Lees and Lam‚ 2001) A dominant market position usually occurs for one of two reasons; either the firm is
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NSS Exploring Economics 4 Chapter 19 Monopoly pricing Questions P.2 Think it over 1. Why does Microsoft not lower its price for Windows so that more people can use its software products? 2. The MTR charges students a lower fare. Do you know why? P.3 Discuss 19.1 Which private companies can be regarded as monopolists in Hong Kong? Do they charge higher prices? What do you mean by ‘higher prices’? Higher than what levels? P.7 Test yourself 19.1 Given the following information
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Journal of Political Economy. December‚ 97:6‚ pp. 1459 – 478. Barro‚ Robert. 1972. “Monopoly and Contrived Depreciation.” Journal of Political Economy. Benjamin‚ Daniel and Roger Kormendi. 1974. Bond‚ Eric. 1982. “A Direct Test of the ‘Lemons’ Model: The Market for Used Pickup Trucks.” American Economic Review Bond‚ Eric. 1984. “Test of the Lemons Model: 152 Bond‚ Eric and Larry Samuelson. 1984. “Durable Good Monopolies with Rational Expectations and Replacement Sales.” Rand Journal of Economics Bucovetsky
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competitive firm is a price maker‚ whereas a monopolist is a price taker. c. Both a competitive firm and a monopolist are price takers. d. A competitive firm is a price taker‚ whereas a monopolist is a price maker. .2 points Question 2 A monopoly Answer a. can set the price it charges for its output but faces a downward-sloping demand curve so it cannot earn unlimited profits. b. can set the price it charges for its output and earn unlimited profits. c. takes the market price
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Compare & Contrast Perfect competition Monopoly & Imperfect competition MMM-Batch 1 Semester: 2 Submitted by: Ratna Mehta Roll no: 57 Compare & Contrast Perfect competition Monopoly & Imperfect competition Markets: When most people think of a market‚ they think of a physical place which is equipped with a lot of shops and shelves stocked with a wide variety of goods. In economics‚ however‚ a market need not be a physical location. Where
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characteristics‚ it may be possible to identify a limited number of market structures that can be used to analyze decision making. TYPES OF MARKET STRUCTURE Economists usually classify market structures into four main types: Perfect Competition‚ Monopoly‚ Monopolistic Competition and Oligopoly. These types of market structure are different according to the following characteristics: CHARACTERISTICS OF MARKET STRUCTURE - Number and Size Distribution of Sellers. The ability of an individual firm
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