SIMPLE PRESENT TENSE SP + V(Base Form) + C USE 1 Repeated Actions Use the Simple Present to express the idea that an action is repeated or usual. The action can be a habit‚ a hobby‚ a daily event‚ a scheduled event or something that often happens. It can also be something a person often forgets or usually does not do. Example: The train leaves every morning at 8 AM. USE 2 Facts or Generalizations The Simple Present can also indicate the speaker believes that a fact was true before‚ is
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other end of the spectrum you have perfect competition‚ where the market is made up of about 100 small companies who would own about 1% of the market each. Towards the middle of the spectrum you have the oligopoly structure where the market is of about 4-10 companies who each control a big chunk each. Perfect competition describes how a set of companies aren’t big enough to control a big chunk of the economic market. There are 4 market characteristics of a perfect competition include a large number
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The Theory of Contestable Markets • Potential competition or monopoly In recent years‚ economists have developed the theory of contestable markets. This theory argues that what is crucial in determining price and output is not whether an industry is actually a monopoly or competitive‚ but whether there is the real threat of competition. If a monopoly is protected by high barriers to entry – say that it owns all the raw materials – then it will be able to make supernormal profits with no fear
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Verb Tenses Simple Past FORM [VERB + ed] USE 1 Completed Action in the Past Use the Simple Past to express the idea that an action started and finished at a specific time in the past. Sometimes‚ the speaker may not actually mention the specific time‚ but they do have one specific time in mind. Examples: I saw a movie yesterday. USE 2 A Series of Completed Actions We use the Simple Past to list a series of completed actions in the past. These actions happen 1st‚ 2nd‚ 3rd‚
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to have is consistency‚ it isn’t enough to pitch 90 mph once‚ as well as watching and studying the hitter. Velocity is a great thing‚ knowing your hitter is good‚ and consistency is even better‚ but add command/control to these and you’d have the perfect pitcher. Having these four traits will only make you become better and better. Clayton Kershaw‚ David Price‚ Jake Arrieta‚ and Zack Greinke are the top four players with these qualities and have made it far in their careers. The Four
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| |d. |hire as many workers as it needs at the prevailing wage rate. | ANS: C PTS: 1 DIF: 1 REF: 14-0 NAT: Analytic LOC: Perfect competition TOP: Market power MSC: Definitional 2. A book store that has market power can |a. |influence the market price for the books it sells. | |b. |minimize costs
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VOHRA PROGRAMME: FYBBA DIVISION: F ROLL NUMBER : 028 SUBJECT: MICROECONOMICS TOPIC: COMPARATIVE ANALYSIS OF MARKET STRUCTURE DATE: 8TH NOVEMBER 2014 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
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Perfect competition Perfect competition is a situation in which a number of business entities compete for the attention of consumers‚ but there is no single company that dominates that market to the point of setting the standards in terms of pricing. Markets with this type of condition normally have large numbers of sellers who are capable of meeting the needs of consumer market‚ and actively compete with one another for the business of those consumers. There are several advantages to the existence
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Chapter 4: Consumer surplus: the difference between market price and what consumers (as individuals or the market) would be willing to pay. It is equal to the area above market price and below the demand curve · the difference between the maximum amount the buyer was willing to pay and the actual price paid Producer surplus: the difference between market price and the price at which firms are willing to supply the product. It is equal to the area below market price and above the supply curve
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marks each should not normally exceed 100 words each. vii) Answers should be brief and to the point – The above word limits should be adhered to as far as possible. 1. Name the characteristic which make monopolistic competition different from perfect competition [1] 2. Why is demand for water inelastic? [1] 3. State one feature of oligopoly [1] 4. In which market form is the demand perfectly inelastic? [1] 5. Distinguish between increase in demand
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