ECONOMICS COMMENTARY Commentary number: 2 Title of extract: Govt begins work on 3 more compulsory licences Source of extract: Business Standard Date of extract: March 30‚ 2013 Word count: 750 words Date the commentary was written: 1/04/2013 The commentary relates: Candidate name: Sushmi Dey | New Delhi March 30‚ 2013 Govt begins work on 3 more compulsory licences DIPP wants foolproof case on anti-cancer drugs of Roche‚ Bristol-Myers The department
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Comparison and contrast the 4 types of market structure: Perfect Competition Definition * there are many buyers and sellers‚ the products are homogeneous and sellers can easily enter and exit from the market Characteristics * Large number of buyers and sellers – firms are price takers. * Homogenous or standardized product – the buyers do not differentiate the products of one seller to another seller. * Free of entry and exit into the market. * Role of non-price competition
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Monopoly 1. Types of market structure 2. The diamond market 3. Monopoly pricing 4. Why do monopolies exist? 5. The social cost of monopoly power 6. Government regulation 7. Price discrimination • We are going to cover sections 10.1-10.4‚ sections 11.1-11.2‚ and for all practical purposes skip chapter 12. • Ben Friedman will speak in class on March 23 on his book The Moral Consequences of Economic Growth 1 3 2 Announcements Types of Market Structure In the real world there is a mind-boggling
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In January of 2013‚ Netflix reported having 27.1 million streaming subscribers. Netflix is a company that provides online streaming and DVD rentals to customers around the world. The company was founded in 1997 by Marc Randolph and Reed Hastings. Netflix started as an online pay-per-rental platform‚ and has evolved into a company built on a reputation of flat-fee‚ unlimited rentals without due dates‚ late fees‚ shipping and handling fees‚ or per title rental fees. Netflix‚ later‚ introduced an
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Project | | Glaydas Lewis | 11/13/2011 | | FedEx Final Project 2 FedEx Corporation is a market structure of an oligopoly they have control over the supply of a commodity is held by a small number of producers each of whom is able to influence prices and thus directly affect the position of competitors. The chief competitor is UPS (United Parcel
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Financial Market Structure In economics‚ a financial market is a mechanism that allows people to easily buy and sell financial securities‚ commodities‚ and other fungible items of value at low transaction costs and at prices that reflect the efficient market hypothesis. Financial markets have evolved significantly over several hundred years and are undergoing constant innovation to improve liquidity. Both general markets and specialized markets exist. Markets work by placing many interested
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and go out of business. This industry movement has allowed many online movie companies to emerge‚ most notably Netflix which is the world’s largest online subscription service of online movie rentals. Background and History of Netflix: Netflix was founded in 1997 in California as an online video rental and streaming company. Since launching its online movie rental service in 1999‚ Netflix has experienced rapid financial growth. Netflix’s net income grew approximately 40 percent annually from 2004
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Maximizing Profits in Market Structures The subject matter of competitive markets can be complex with many extraneous details that can make all the difference between being a perfect competition‚ monopolistic competition‚ a monopoly‚ or an oligopoly. Each of these types of markets have specific characteristics and economic market effects that include entry barriers‚ price and output determination to produce the most profits for any given business or company. Even though these differences may
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the firm is horizontal. No new firms enter or leave the industry. The number of firms in the industry‚ therefore‚ remain the same. Under perfect competition‚ the firm takes the price of the product as determined in the market. The firm sells all its output at the prevailing market price. The firm‚ in other words‚ is a price taker. Equilibrium of a Competitive Firm: The short-run equilibrium of a firm can be easily explained with the help of marginal revenue = marginal
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Assignment 1 Netflix is a internet based DVD rental service that starts the exchange process by offering subscriptions to its services to the public. The consumer subscribes at a monthly fee giving them access to a 60‚000 DVD library. Once a customer has paid their monthly fee they can have a predetermined amount of DVDs sent to their house. After the consumer has finished with their DVD selection they have the option of returning it for another with never accruing any late fees. Netflix would be categorized
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