OUM TOPIC 8: MONOPOLY‚ MONOPOLISTIC AND OLIGOPOLY TOPIC 8: MONOPOLY‚ MONOPOLISTIC AND OLIGOPOLY Introduction Apart from perfect market competition‚ we will look at three other types of market structure‚ namely monopoly‚ monopolistic and oligopoly in this topic. We will also compare between the characteristics of the market structure. In this topic‚ the emphasis will be on monopoly‚ while the other two structures will be discussed briefly. Learning Objectives At the end of this topic
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the company Quasar Computers‚ based in the computer industry to understand pricing strategies and market competitiveness. First‚ identify the pricing strategies and price in each market structures: monopoly‚ oligopoly‚ monopolistic competition and perfect competition. Second‚ we describe the relationship between technology‚ research‚ development and economic efficiency and then justify the investment in these areas to maximize the economic benefits in each of the market structures. Third‚ identify
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CONTENTS INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . ……………….………..4 1. THEORETICAL SURVEY..………………………….……..........................5 1.1. Ways of expressions future actions. Diachronic approach...........................5 1.2. The synchronic analysis. Future tenses.........................................................9 1.3. Forms of expressing futurity……………......................................…….....14 2. LINGUISTIC INVESTIGATION........................................
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A group of philosophers are tasked with the creation of a perfect city in which everything within the city is considered to be just and healthy. In the hypothetical city they’ve named Kallipolis‚ Socrates explains to his cohorts that he has divided the people inside the city into three distinct classes. At the top of the list‚ he places the guardians who have gold souls and who are considered the elites; below the guardians rest the auxiliaries who have silver souls; and below everyone else‚ lay
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When a firm has the power to establish its price‚ Answer Selected Answer: P > MR. Correct Answer: P > MR. Question 6 10 out of 10 points Which of the following characteristics is most important in differentiating between perfect competition and all other types of markets? Answer Selected Answer: whether or not firms are price takers Correct Answer: whether or not firms are price takers Question 7 10 out of 10 points In economic analysis‚ any amount
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30.11.2012 Key learnings from Micro Economics module It was a very informative session and an eye opener. I was under the impression that economics only deals with fiscal and monetary policies. This was my first acquaintance with micro economics and it opened up a new perspective. I am in a position now to understand many events that happen every day around me. I am able to have a broad idea about how these events may have a direct or indirect impact on me as an individual (professionally as well
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Monopolies can be national (royal mail)‚ regional (water companies) or local (petrol station). Unlike a perfect competition situation were firms are ’price takers ’ and only respond to consumer demand‚ a monopoly finds itself in an imperfect competition market. In this type of market the firm is more of a ’price maker ’ and can therefore influence the market price. When comparing monopoly and perfect competition under the same conditions‚ we can find that the monopolist when in equilibrium produces
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microeconomics‚ particularly on competition theory and consumer choice‚ and their connection to prices. Edward Chamberlin coined the term "product differentiation" to describe how a supplier may be able to charge a greater amount for a product than perfect competition would allow. In 1962 was admitted as corresponding academician to the RACEF.[1] His most significant contribution was the theory of monopolistic competition. Chamberlin published his book The Theory of Monopolistic Competition in 1933
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the event is in the past * the event is completely finished * we say (or understand) the time and/or place of the event In general‚ if we say the time or place of the event‚ we must use the past simple tense; we cannot use the present perfect. Here are some more examples: * I lived in that house when I was young. * He didn’t like the movie. * What did you eat for dinner? * John drove to London on Monday. * Mary did not go to work yesterday. * Did you play tennis
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Assignment : Teaching Grammar to ESL Students 1. I used to drink a bottle of vodka a day. (a recovering alcoholic at an AA meeting) STRUCTURE: ‘used’ structure FORM: subject + used to + infinitive B. FUNCTION AND MEANING It talks about an action that happened regularly in the past but no longer happens in the present. . C. PROBLEMS WITH… Meaning: Students may think that he is talking about the present‚ rather than the past. Some learners may use ‘used to’ in place of the
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