competition and oligopoly affect price and output determination in these market structures. Both monopolistic competition (MPC) and oligopoly generally determine price and output based on the profit-maximising condition that marginal cost (MC) equals to marginal revenue (MR). Due to the different features of both monopolistic competition and oligopoly such as the barriers to entry (BTE)‚ which affects the number of sellers as well as market power‚ nature of product and possibility of enjoying economies
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Chapter 3 Management and Organization Evaluation This chapter presents the management and organization evaluation which composes of the form of business organization‚ organizational structure‚ personnel qualification‚ personnel duties and responsibilities and personnel salary structure. 3.1 Form of Business Organization The company operates as a small scale single proprietorship and is manned primarily by 20 regular employees. Contractual staff is hired depending on the volume of demand for
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The Four Market Structures Every business belongs to a type of market due to demand and freedom of entry. In order to know what type of market businesses operate in‚ it is important to distinguish which market structure each specific firm belongs to. The four structures which I will go onto explain in depth are perfect competition‚ monopolistic competition‚ monopoly and oligopoly/ duopoly.I will also be comparing and contrasting the theoretical constructs and the associated assumptions. Perfect
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The popularity of fast food production today is a direct result of busy families. In today’s society both husband and wife usually obtain full-time careers. These careers take up much of the family’s time and energy. Children of these families are usually very active in many extracurricular activities such as‚ Boy Scouts‚ football‚ baseball‚ and basketball. With all of the practice‚ games‚ and outings‚ these activities consume a great amount of the family’s time. In this fast paced life people find
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1. Base on market information for Asia Pacific‚ we can made conclusion that business future in Asian region has to have bright future. With 33% of the world’s GDP and 50% of its population‚ Asia has emerged as a rapidly growing force in the global economy. Due to the cultural diversity‚ regulatory controls‚ growing base of consumer power and its own set of business "rules‚" the multinational corporations (MNCs) find it challenging to enter the Asian market successfully. Most MNCs are reassessing
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Oligopoly Market Structure Under Perfect Competition or Monopolistic system there are so many firms in the industry. None of the firms worry about the effect of their actions on their rival firms. The type of market structure describe in this question is Oligopoly. Oligopoly is the market structure where few large market firms compete with each other. Supermarkets (Tesco‚ Morrison’s and Asda) and cars are the perfect example for oligopoly market structure in the UK. In oligopoly market structure each
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Setting up a fast food joint in India (Feasibility Report) Prepared By: Alankar MBA – International Business Indian Institute of Foreign Trade‚ Delhi Introduction Fast food is the term given to food that can be prepared and served very quickly. While any meal with low preparation time can be considered to be fast food‚ typically the term refers to food sold in a restaurant or store with low quality preparation and served to the customer in a packaged form for take-out/take-away. Also
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Organizational behaviour in fast food industry is an important area to analyze as fast food sector is growing rapidly. It has direct positive relation with organizational productivity. Around the globe‚ the penetration of fast food sector is enormous. A field study was conducted in order to evaluate the employees’ perception of various dynamics of organizational behaviour. The context selected was the fast food restaurants of Pakistan. A sample of 100 fast food restaurants’ employee was selected
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MARKET STRUCTURE AND COMPETITION EXERCISES Exercise 1: The own firm’s price elasticity is a measure that evaluates how the firm’s demand changes when it alters the price of the good or service offered‚ given that the rest of the variables remain fixed. While the cross-price elasticity measures how a firm’s demand changes when some other firm alters its price. Therefore‚ the second term considers the existence of interrelated firms in the market‚ that is‚ the fact that one firm’s actions affect
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Healthy Food Against Fast Food Being on healthy diet is something hard to stay on it for a long time beacause you miss the‚ taste the smell and the joy of junk food also known as fast food. Many of us found fast food is more delicious than healthy food while few people found healthy is more delicious than fast food. World Health Organization made statistics about
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