Why do oligopolies suffer from price rigidity and interdependence? (15) An oligopoly is where a few large firms have the majority of the market share. Oligopolies often suffer from price rigidity‚ which is when prices stay inflexible and sticky and can be demonstrated on a diagram called the kinked demand curve. They also often suffer from interdependence‚ which is where the actions from one firm will have an effect on the sales and revenue of other large firms in the market. The
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is: A. 15. B. 20. C. 25. D. 30. 5. Refer to the above data. The value for Z is: A. -5. B. +5. C. -10. D. zero. 6. A product has utility if it: A. takes more and more resources to produce successive units of it. B. violates the law of demand. C. satisfies consumer wants. D. is useful. 7. The law of diminishing marginal utility states that: A. total utility is maximized when consumers obtain the same amount of utility per unit of each product consumed. B. beyond some point additional
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approximately 2.1 million people. Now‚ somewhere down the line you might be wondering why I am not referring to Wal-Mart as an oligopoly. Wal-Mart is indeed an oligopoly because there are only a few firms in the United States that dominate the retailing business. The other firms like Wal-Mart are Target and CostCo .When looking at Wal-Mart from this perspective‚ it is an oligopoly. If you take Wal-Mart and look at it from the perspective of a mom and pop or brick and mortar store‚
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Macroeconomics‚ (Hubbard/O’Brien) Chapter 24 Aggregate Demand and Aggregate Supply Analysis 1) The static aggregate demand and aggregate supply curve model helps explain A) short term fluctuations in real GDP and the price level. B) long term growth. C) price fluctuations in an individual market. D) output fluctuations in an individual market. 2) The aggregate demand curve shows the relationship between the ________ and ________. A) inflation rate;
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123 Spruce St‚ Apt 35 Philadelphia PA 19103 Gayle L. McDowell (555) 555-1212 gayle@careercup.com Employment Software Engineer‚ Intern Apple Computer Summer 2004 iChat AV Reduced time to render the user’s buddy list by 75% by implementing prediction algorithm. Implemented iChat integration with OS X Spotlight Search by creating tool which extracts metadata from saved chat transcripts and provides metadata to a system-wide search database. Redesigned chat file format and implemented
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Laws of Supply and Demand The market price of a good is determined by both the supply and demand for it. In the world today supply and demand is perhaps one of the most fundamental principles that exists for economics and the backbone of a market economy. Supply is represented by how much the market can offer. The quantity supplied refers to the amount of a certain good that producers are willing to supply for a certain demand price. What determines this interconnection is how much of a
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HOW THE ECONOMY WORKS: AGGREGATE DEMAND ECO 2021_August 2014 CURIOUS QUESTIONS (for today) What is What is between and the “aggregate demand”? the relationship aggregate demand economy? Macroeconomics studies the performance of the economy. national global totals aggregates aggregate demand total demand in a country WAYS TO MEASURE THE PERFORMANCE OF AN ECONOMY output method expenditure method income method The Expenditure Method
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yield curve and how is it made. The yield curve‚ is a graph that depicts the relationship between bond yields and maturities‚ is an important tool in fixed-income investing and attempting to predict future recessions given its track record. Investors use the yield curve as a reference point for forecasting interest rates‚ pricing bonds and creating strategies for boosting total returns. The yield curve has also become a reliable leading indicator of economic activity.(PIMCO) A yield curve is a line
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11/30: (Bring pencil and calculator) Exam Review: GDP: * Y = C + I + G + ( X - M ) Pent-Up Demand “If you want to slow an economy to a screeching halt‚ make tax policy uncertain.” Fiscal Cliff: * Jan 1‚ 2013 * Bush era tax cuts expire‚ increasing tax rate for ALL income groups * Automatic spending cuts (Official) Start of the last recession: * December 2007 (Official) End of last recession: * June 2009 Chapter 16: * Not on final‚ but know the difference
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Supply and Demand: The Market Mechanism All societies necessarily make economic choices. Society needs to make choices about‚ what should be produced‚ how should those goods and services be produced‚ and whom is allowed to consumes those goods and services. For conventional economics the market by way of the operation of supply and demand answer these questions. Under conditions of competition‚ where no one has the power to influence or set price‚ the market (everyone‚ producers and consumers together)
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