What factors influence Dawn’s options? 2. The main factors that will influence Dawn’s options are the possiblity of the loss of productivity and a lower moral within the hospital. In the past when they tried to break the union the nurse’s prouctivity slowed. This could in turn cause a drop in the quality of care that is given to the patients. The lower quality of care there is the greater chance things could happen and lawsuits being filed againsts the hospital. Identify the ethival
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The Sherman Act of 1890 prohibited business monopolies and price fixing (p.375). Later in 1914‚ The Clayton Act elaborated more on the Sherman Act. This act outlaws price discrimination‚ prohibition of tying contracts‚ prohibits the purchase of stocks of competitors‚ and prohibits the formation of interlocking
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are four such categories. At one extreme is perfect competition‚ where there are very many firms competing. Each firm is so small relative to the whole industry that it has no power to influence price. It is a price taker. At the other extreme is monopoly‚ where there is just one firm in the industry‚ and hence no competition from within the industry. In the middle come monopolistic competition‚ which involves quite a lot of firms competing and where there is freedom for new firms to enter the industry
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Page 1 of 14 THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ECONOMICS SESSION 1‚ 2009 ‚ ‚ I ECONllOl MICROECONOMICS I FINAL EXAMINATION TIME ALLOWED - 2HOURS THIS PAPER IS WORTH 65% OF THE TOTAL SUBJECT MARK This examination paper consists of two parts - Part A and Part B Part A consists of 20 multiple choice questions each worth onc and one quarter (1.25) marks. Answer all the questions in Part A on the answer sheet provided‚ using pencil . only: Print your student number‚ name and
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non price competition in order to avoid price wars. In an oligopoly the firms are interdependent and take into account likely reactions of their rivals to any change in price‚ output or forms of non-price competition. In perfect competition and monopoly‚ the producers did not have to consider a rival’s response when choosing output and price. The kinked demand curve can be used to support this‚ elastic - rivals wouldn’t-amour pro PF - - _ _ - -rivals more likely to follow
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IMAX Corporation IMAX Corporation IMAX Corporation is one of the most advanced companies in the world that manufactures‚ distributes and exhibits digital movie theater systems around the world. It specializes on developing high definition film cameras‚ large theater screens and high resolution projectors. The 3D image technologies along with surround sound system are designed to bring a new experience to the spectators‚ making them feel they are part of the show. The innovations and high quality
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different product or (market-specific) service‚ and the products combine to satisfy a common need. It is contrasted with horizontal integration.Vertical integration is one method of avoiding the hold-up problem. A monopoly produced through vertical integration is called a vertical monopoly‚ although it might be more appropriate to speak of this as some form of cartel. Two types of vertical integration:- Backward Vertical integration when it controls subsidiaries that produce some of the inputs used
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consumer is willing to pay and the price actually paid is known as consumers’ surplus. Thus a firm engaging in first degree price discrimination is attempting to extract all the consumers’ surplus from its customers’ as profits. In general graph of monopoly‚ one of the most interesting things to look at is marginal revenue. While demand curve indicates the relationship between the quantity and the price‚ marginal
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each brand. MONOPOLISTIC COMPETITION In the short run these markets look like mini monopolies as illustrated on page 225. In the long run any successful idea will be copied‚ thereby eroding any economic profits. MONOPOLISTIC COMPETITION Any company with a new variation of a product that the public likes‚ such as clear products‚ remember Pepsi Clear a few years ago‚ will have a monopoly position and can charge a price that produces economic profits. Needless to say if Pepsi
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market is perfectly contestable (there are always some “barriers to contestability” – see your revision notes on barriers to entry). That said it is also true that virtually every market is contestable to some degree even when it appears that the monopoly position of a dominant seller is unassailable. This can have important implications for the competitive behaviour (conduct) of existing firms and clearly then affects the performance of a market from an economic efficiency viewpoint (e.g. allocative
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