TOPIC 1: MARKET STRUCTURE AND MARKET POWER 1.1. Competitors Anyone that produces a substitute for a firm’s product. - Cross price elasticity: Measures the substitution degree of a product for another. P.E.>1 – The demand is elastic‚ a change in price is reflected as an even major change in demand. The extent of the variation is higher as higher is the substitution degree of a product for another. We can say two firms are competing when a price increase by one firm‚ drives its customers to the other
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1. The creation of a binding contract that the courts will enforce requires the contracting parties to meet a number of requirements that are prescribed by the law of contract. While these requirements are not numerous‚ they must‚ nevertheless‚ be met before the agreement creates rights and duties that may be enforceable at law. These requirements are referred to as the elements of a valid contract and consist of the following: a. An intention to create a legal relationship – Though the Contracts
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America’s Most Shameful Moment President Jackson ordered Indian removal despite the Constitution‚ and this was very controversial between the Native Americans‚ general public‚ and law makers. Andrew Jackson most certainly did not have the right to order the removal of the Native Americans. Beside from ethics‚ his own government branch of the Supreme Court declared it illegal. John Marshall decided that the Cherokees had their own nation‚ and it would be wrong for the United States to claim the
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A moment in my life where I was proud of myself happened around the summer I graduated from high school in 2007. When I had finally graduated I could finally take a break from school‚ go out of town for a few weeks‚ and get to kick back like I wanted to. I was enjoying my summer like any other teen‚ and just like another teen I realized it’s now time for me to get a job especially since I wasn’t in any rush to go to college. Not to mention that I was the youngest out of three and the only boy so
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Summary: Preface Frankenstein opens with a preface‚ signed by Mary Shelley but commonly supposed to have been written by her husband‚ Percy Bysshe Shelley. It states that the novel was begun during a summer vacation in the Swiss Alps‚ when unseasonably rainy weather and nights spent reading German ghost stories inspired the author and her literary companions to engage in a ghost story writing contest‚ of which this work is the only completed product. Summary: Letter 1 The novel itself begins with
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Plot Summary By Michael J. Cummings...© 2009 .......Wounded‚ the narrator takes refuge at nightfall with his valet‚ Pedro‚ in an apartment in the turret of a grand but gloomy chateau in Italy’s Apennines Mountains. Pedro had broken into the building‚ which appears to have been temporarily abandoned‚ so that his injured employer would have a place to rest. .......The furnishings are elegant but old and run-down. On the walls are tapestries‚ armorial trophies‚ and modern paintings in frames
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Summary of the film ”Smoke” by Paul Auster “Smoke” is a film based on the book “Smoke” written by Paul Auster. The film tells the stories of mainly three people in Brooklyn. The movie takes place in New York with the cigar shop Brooklyn Cigar Co. as the centre of the film. The owner of the shop is named Auggie Wren. For him the store is the centre of the world and he takes pictures near the shop at the exact same place every morning at the same time. Paul Benjamin is a regular costumer‚ who
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Execution Summary In Anna Quindlen essay "Execution" (One True Thing‚ 1994)‚ Quindlen gives a few examples to why she is against death penalty. She believes that a death penalty for a human being as punishment for the killing of another is not what it seems. She feels that death penalties are false and the issue is it will never give people what they want. Quindlen highlights why "death penalty does not accomplish what it was designed for” by providing personal and emotional experiences and examples
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March 8‚ 2015 Article Summary In the article "Understanding American Worldview‚" the author J. LaVelle Ingram explains the cross cultural differences between Americans and immigrants. It also informs immigrants the atypical worldview of the American country they are adopting. Hence‚ these set of worldviews are categorized in five dimensions. In America‚ the first identified dimensions of worldview is that time focuses on the future instead of the past. Living for-the-moment and living according to
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Summary Lead ___The summary lead is the most traditional lead in a journalism article. It is to the point and factual. It’s meant to give a reader a quick summary of the story in as few words as possible (should be 30 words or less)‚ usually in one sentence. It contains the essence of the story (i.e. the most important‚ but not necessarily all‚ of the 5 Ws and H -- who‚ what‚ when‚ where‚ why and how). It cites the source of any opinions. ___For example‚ I frequently used this approach when I
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