What is the difference between the American Bipartisan system and an Oligopoly? Is this democracy?
Q. It seems to me that all that happens in this country is a sharing of power between the Democratic and Republican Party. If one party looses an election all they need to do is wait a few years and then try again, eventually the other party will win an election in a period of 2 (senate) to 8 or 12 years maximum. Therefore the party that looses an election is guaranteed to win sooner or later. This appears to be very similar to an economic oligopoly, where each party knows what the other is doing and they only need to wait in order to have power and control. My question would be, if an Oligopoly is considered an unfair business practice, why should it be fair to have a two party political system? Is this democracy?
Asked by Jack M - Sun May 14 12:56:51 2006 - - 4 Answers - 0 Comments
A. American is not, and was never intended to be, a democracy. In a democracy, it is pure majority rule. In a republic, like the US, people get together and elect someone else to vote on their behalf and to make decisions for everyone elese. It's majority rule by proxy. An Oligopoly is an economic model where a few people control the means of production and distribution. An Oligarchy is a political system where a few people control the power. The US is not an Oligarchy, since the power is held by political parties, not individuals. It may be an oligopoly, depending upon how you view corporate ownership. Is it fair? No. Personally, I think political parties are one one of the worst mistakes made by this country since its founding. I think… [cont.]
Answered by coragryph - Sun May 14 13:09:26 2006
Q. It seems to me that all that happens in this country is a sharing of power between the Democratic and Republican Party. If one party looses an election all they need to do is wait a few years and then try again, eventually the other party will win an election in a period of 2 (senate) to 8 or 12 years maximum. Therefore the party that looses an election is guaranteed to win sooner or later. This appears to be very similar to an economic oligopoly, where each party knows what the other is doing and they only need to wait in order to have power and control. My question would be, if an Oligopoly is considered an unfair business practice, why should it be fair to have a two party political system? Is this democracy?
Asked by Jack M - Sun May 14 12:56:51 2006 - - 4 Answers - 0 Comments
A. American is not, and was never intended to be, a democracy. In a democracy, it is pure majority rule. In a republic, like the US, people get together and elect someone else to vote on their behalf and to make decisions for everyone elese. It's majority rule by proxy. An Oligopoly is an economic model where a few people control the means of production and distribution. An Oligarchy is a political system where a few people control the power. The US is not an Oligarchy, since the power is held by political parties, not individuals. It may be an oligopoly, depending upon how you view corporate ownership. Is it fair? No. Personally, I think political parties are one one of the worst mistakes made by this country since its founding. I think… [cont.]
Answered by coragryph - Sun May 14 13:09:26 2006
Are there any models of oligopoly where firms set output apart from Cournot and Stackelberg?
Q. Are there any models of oligopoly where firms set output apart from Cournot and Stackelberg? Cournot and Stackelberg models, firms compete on output and price is given from the demand curve. Are there any other models where firms compete on output? These two are conjectural variation models, and limit pricing models exist however firms set price in those, I have been trying to work out whether I can find any game theory models? Thanks very much.
Asked by mC - Mon Jan 12 07:15:58 2009 - - 2 Answers - 0 Comments
A. To the best of my knowledge those are the only game theory models based on output decisions, although I'm not 100% positive. I couldn't find anything else with a quick google search. Would love to know the answer for certain though.
Answered by Jim - Mon Jan 12 10:13:31 2009
Q. Are there any models of oligopoly where firms set output apart from Cournot and Stackelberg? Cournot and Stackelberg models, firms compete on output and price is given from the demand curve. Are there any other models where firms compete on output? These two are conjectural variation models, and limit pricing models exist however firms set price in those, I have been trying to work out whether I can find any game theory models? Thanks very much.
Asked by mC - Mon Jan 12 07:15:58 2009 - - 2 Answers - 0 Comments
A. To the best of my knowledge those are the only game theory models based on output decisions, although I'm not 100% positive. I couldn't find anything else with a quick google search. Would love to know the answer for certain though.
Answered by Jim - Mon Jan 12 10:13:31 2009
Economics Question on theory of oligopoly and Prisoners Dilemma?
Q. Hey everyone, Im stuck on a question that I need to complete formy economics homework. Any help would be greatly appreciated. 1. In 1971, congress passed a law banning cigarette advertisements on television. When the law went into effect, cigarette advertising fell, and the profits of cigarette companies rose. Using the theory of oligopoly and the concept of prisoners dilemma, explain why the cigarette companies did not cut advertising on their own to increase their profits before that law went into effect.
Asked by frankie p - Mon Jul 27 18:35:50 2009 - - 2 Answers - 0 Comments
A. The answer is pretty simple, but I'm not going to do your homework for you. Go get a tutor, and hit up wikipedia.
Answered by Eran B - Tue Jul 28 00:14:28 2009
Q. Hey everyone, Im stuck on a question that I need to complete formy economics homework. Any help would be greatly appreciated. 1. In 1971, congress passed a law banning cigarette advertisements on television. When the law went into effect, cigarette advertising fell, and the profits of cigarette companies rose. Using the theory of oligopoly and the concept of prisoners dilemma, explain why the cigarette companies did not cut advertising on their own to increase their profits before that law went into effect.
Asked by frankie p - Mon Jul 27 18:35:50 2009 - - 2 Answers - 0 Comments
A. The answer is pretty simple, but I'm not going to do your homework for you. Go get a tutor, and hit up wikipedia.
Answered by Eran B - Tue Jul 28 00:14:28 2009
How does each barrier foster monopoly or oligopoly?
Q. Explain how each barrier can foster either monopoly or oligopoly. Which barriers, if any, do you feel give rise to monopoly that is socially justifiable
Asked by squirt22 - Tue Sep 23 19:49:21 2008 - - 1 Answers - 0 Comments
A. No monopolies are socially justifiable. Tariffs and other traded restrictions create monopolies or oligopolies. Also, the cable companies and telephone companies were monopolies for a very long time.
Answered by desotobrave - Tue Sep 23 19:55:50 2008
Q. Explain how each barrier can foster either monopoly or oligopoly. Which barriers, if any, do you feel give rise to monopoly that is socially justifiable
Asked by squirt22 - Tue Sep 23 19:49:21 2008 - - 1 Answers - 0 Comments
A. No monopolies are socially justifiable. Tariffs and other traded restrictions create monopolies or oligopolies. Also, the cable companies and telephone companies were monopolies for a very long time.
Answered by desotobrave - Tue Sep 23 19:55:50 2008
Can you explain how California's cellular phone companies are an oligopoly?
Q. An oligopoly has - few firms and high barriers to entry - heterogeneous product which can be created through advertising - mutual interdependencies in pricing and output - strategic pricing where large firms drive small firms out - the ability to earn a positive economic profit - collusion which although illegal can be done implicitly through price leadership How do California's cell phone companies fit these criteria?
Asked by Scotty - Sat Dec 13 22:38:48 2008 - - 2 Answers - 0 Comments
A. FCC sells the channels in which the companies operate. The cost to obtain channels, install equipment, and begin operations, will prevent those who wish to enter into the market.
Answered by Kacy H - Sat Dec 13 22:42:53 2008
Q. An oligopoly has - few firms and high barriers to entry - heterogeneous product which can be created through advertising - mutual interdependencies in pricing and output - strategic pricing where large firms drive small firms out - the ability to earn a positive economic profit - collusion which although illegal can be done implicitly through price leadership How do California's cell phone companies fit these criteria?
Asked by Scotty - Sat Dec 13 22:38:48 2008 - - 2 Answers - 0 Comments
A. FCC sells the channels in which the companies operate. The cost to obtain channels, install equipment, and begin operations, will prevent those who wish to enter into the market.
Answered by Kacy H - Sat Dec 13 22:42:53 2008
what is a prisoners dilemma, and what does it have to do with oligopoly?
Q. what is a prisoners dilemma, and what does it have to do with oligopoly?
Asked by moroskyts - Mon May 19 01:42:27 2008 - - 2 Answers - 0 Comments
A. Prisoners dilemma is a process of decision making between two or many agents. the problem is that they should make decision in order to maximize total benefit and at the same time to benefit personally which is a bit opposite from if they decide for benefit of all. Oligopolies face same problem in pricing and quantity supplied decisions.
Answered by J - Mon May 19 02:29:22 2008
Q. what is a prisoners dilemma, and what does it have to do with oligopoly?
Asked by moroskyts - Mon May 19 01:42:27 2008 - - 2 Answers - 0 Comments
A. Prisoners dilemma is a process of decision making between two or many agents. the problem is that they should make decision in order to maximize total benefit and at the same time to benefit personally which is a bit opposite from if they decide for benefit of all. Oligopolies face same problem in pricing and quantity supplied decisions.
Answered by J - Mon May 19 02:29:22 2008
Which of the following is most closely associated with oligopoly?
Q. Which of the following is most closely associated with oligopoly? a. no control over price b. product standardization c. a few large producers d. easy entry into the industry
Asked by Carlie - Sun Aug 30 01:36:24 2009 - - 1 Answers - 0 Comments
A. c is the correct answer.
Answered by Savetheworld - Sun Aug 30 03:30:26 2009
Q. Which of the following is most closely associated with oligopoly? a. no control over price b. product standardization c. a few large producers d. easy entry into the industry
Asked by Carlie - Sun Aug 30 01:36:24 2009 - - 1 Answers - 0 Comments
A. c is the correct answer.
Answered by Savetheworld - Sun Aug 30 03:30:26 2009
What is an oligopoly, perfect competition, and monopolistic competition?
Q. Hello folks! Can anyone please explain: Oligopoly Perfect Competition and Monopolistic Competition. An example of each as well. thhhaaannkkksss!!!
Asked by wanna know - Tue Oct 14 09:16:23 2008 - - 1 Answers - 0 Comments
A. Oligopoly is a market structure characterized by a small number of relatively large firms that dominate an industry. The market can be dominated by as few as two firms or as many as twenty, and still be considered oligopoly. With fewer than two firms, the industry is monopoly. As the number of firms increase (but with no exact number) oligopoly becomes monopolistic competition. Because an oligopolistic firm is relatively large compared to the overall market, it has a substantial degree of market control. It does not have the total control over the supply side as exhibited by monopoly, but its capital is significantly greater than that of a monopolistically competitive firm. An example might be the security ratings agencies of S&P and… [cont.]
Answered by Bill B - Tue Oct 14 16:59:18 2008
Q. Hello folks! Can anyone please explain: Oligopoly Perfect Competition and Monopolistic Competition. An example of each as well. thhhaaannkkksss!!!
Asked by wanna know - Tue Oct 14 09:16:23 2008 - - 1 Answers - 0 Comments
A. Oligopoly is a market structure characterized by a small number of relatively large firms that dominate an industry. The market can be dominated by as few as two firms or as many as twenty, and still be considered oligopoly. With fewer than two firms, the industry is monopoly. As the number of firms increase (but with no exact number) oligopoly becomes monopolistic competition. Because an oligopolistic firm is relatively large compared to the overall market, it has a substantial degree of market control. It does not have the total control over the supply side as exhibited by monopoly, but its capital is significantly greater than that of a monopolistically competitive firm. An example might be the security ratings agencies of S&P and… [cont.]
Answered by Bill B - Tue Oct 14 16:59:18 2008
What is the difference between a homogenous and a defferentiated oligopoly?
Q. What is the difference between a homogenous and a defferentiated oligopoly?
Asked by parisochka - Sun Nov 11 08:36:33 2007 - - 1 Answers - 0 Comments
A. An oligopoly is a market condition in which the production of identical or similar products is concentrated in a few large firms. Examples of oligopolies in the United States include the steel, aluminum, automobile, gypsum, petroleum, tire, and beer industries. The introduction of new products and processes can create new oligopolies, as in the computer or synthetic fiber industries. Oligopolies also exist in service industries, such as the airlines industry. An oligopoly may be categorized as either a homogeneous oligopoly or a differentiated oligopoly. In a homogeneous oligopoly the major firms produce identical products, such as steel bars or aluminum ingots. Prices tend to be uniform in homogeneous oligopolies. In a differentiated… [cont.]
Answered by Sandy - Mon Nov 12 07:20:57 2007
Q. What is the difference between a homogenous and a defferentiated oligopoly?
Asked by parisochka - Sun Nov 11 08:36:33 2007 - - 1 Answers - 0 Comments
A. An oligopoly is a market condition in which the production of identical or similar products is concentrated in a few large firms. Examples of oligopolies in the United States include the steel, aluminum, automobile, gypsum, petroleum, tire, and beer industries. The introduction of new products and processes can create new oligopolies, as in the computer or synthetic fiber industries. Oligopolies also exist in service industries, such as the airlines industry. An oligopoly may be categorized as either a homogeneous oligopoly or a differentiated oligopoly. In a homogeneous oligopoly the major firms produce identical products, such as steel bars or aluminum ingots. Prices tend to be uniform in homogeneous oligopolies. In a differentiated… [cont.]
Answered by Sandy - Mon Nov 12 07:20:57 2007
Oligopoly is the most prevalent form of market structure in the manufacturing sector.?
Q. Oligopoly is the most prevalent form of market structure in the manufacturing sector. Describe this statement with the help of an example.
Asked by amit k - Thu Apr 23 01:17:18 2009 - - 1 Answers - 0 Comments
A. Oligopoly is a common market form. As a quantitative description of oligopoly, the four-firm concentration ratio is often utilized. This measure expresses the market share of the four largest firms in an industry as a percentage. Oligopolistic competition can give rise to a wide range of different outcomes. In some situations, the firms may employ restrictive trade practices (collusion, market sharing etc.) to raise prices and restrict production in much the same way as a monopoly. Where there is a formal agreement for such collusion, this is known as a cartel. A primary example of such a cartel is OPEC which has a profound influence on the international price of oil. Firms often collude in an attempt to stabilise unstable markets, so as… [cont.]
Answered by Achu - Thu Apr 23 01:41:04 2009
Q. Oligopoly is the most prevalent form of market structure in the manufacturing sector. Describe this statement with the help of an example.
Asked by amit k - Thu Apr 23 01:17:18 2009 - - 1 Answers - 0 Comments
A. Oligopoly is a common market form. As a quantitative description of oligopoly, the four-firm concentration ratio is often utilized. This measure expresses the market share of the four largest firms in an industry as a percentage. Oligopolistic competition can give rise to a wide range of different outcomes. In some situations, the firms may employ restrictive trade practices (collusion, market sharing etc.) to raise prices and restrict production in much the same way as a monopoly. Where there is a formal agreement for such collusion, this is known as a cartel. A primary example of such a cartel is OPEC which has a profound influence on the international price of oil. Firms often collude in an attempt to stabilise unstable markets, so as… [cont.]
Answered by Achu - Thu Apr 23 01:41:04 2009
What are the Positive and Negative aspect of Kinked demand curve model theory of oligopoly?
Q. The kinked demand theory of oligopoly is the assumption of rivals are likely of matching a price increase not decrease, the oligopoly believe in the theory that they face a downward sloping demand curve which is kinked at the current price, what i wanted to know is what are the positive and negative aspect of the kinked demand curve? Why does oligopolists have to start at the equilibriun price and output even if the profit maximization can be reach at the equilibrium P&Q.
Asked by Rosyanne - Tue Nov 7 09:57:01 2006 - - 4 Answers - 0 Comments
A. There are no positive and negative aspects. Kinked demand curve is a theory, not a fact. It explains very well why prices in oligopolistic industries tend to be stable and why price decreases by one oligopolist are usually matched by others, while price increases are usually not. It does not, however, explain how an industry becomes an oligopoly...
Answered by NC - Tue Nov 7 10:44:59 2006
Q. The kinked demand theory of oligopoly is the assumption of rivals are likely of matching a price increase not decrease, the oligopoly believe in the theory that they face a downward sloping demand curve which is kinked at the current price, what i wanted to know is what are the positive and negative aspect of the kinked demand curve? Why does oligopolists have to start at the equilibriun price and output even if the profit maximization can be reach at the equilibrium P&Q.
Asked by Rosyanne - Tue Nov 7 09:57:01 2006 - - 4 Answers - 0 Comments
A. There are no positive and negative aspects. Kinked demand curve is a theory, not a fact. It explains very well why prices in oligopolistic industries tend to be stable and why price decreases by one oligopolist are usually matched by others, while price increases are usually not. It does not, however, explain how an industry becomes an oligopoly...
Answered by NC - Tue Nov 7 10:44:59 2006
Can anyone please explain the difference between monopoly and oligopoly by giving examples?
Q. Can anyone please explain the difference between monopoly and oligopoly by giving examples?
Asked by Suki - Mon Apr 9 12:11:36 2007 - - 4 Answers - 0 Comments
A. A monopoly means there is a single company that controls the entire market. They have the market power to be able to sell where marginal revenue equals supply rather than where demand meets supply. An oligopoly is where there are several large companies in the market place. They have limited market power. The closest to an unregulated monopoly would be something like DeBeers diamonds. Most utilities in the United States are monopolies but they are regulated by the government so there market power is limited. The classic example of an oligopoly would be the airplane industry. There are very few competitors because of the high start-up costs.
Answered by Brandon A - Mon Apr 9 12:21:18 2007
Q. Can anyone please explain the difference between monopoly and oligopoly by giving examples?
Asked by Suki - Mon Apr 9 12:11:36 2007 - - 4 Answers - 0 Comments
A. A monopoly means there is a single company that controls the entire market. They have the market power to be able to sell where marginal revenue equals supply rather than where demand meets supply. An oligopoly is where there are several large companies in the market place. They have limited market power. The closest to an unregulated monopoly would be something like DeBeers diamonds. Most utilities in the United States are monopolies but they are regulated by the government so there market power is limited. The classic example of an oligopoly would be the airplane industry. There are very few competitors because of the high start-up costs.
Answered by Brandon A - Mon Apr 9 12:21:18 2007
why is an oligopoly market dynamically efficient? and not allocatively efficient?
Q. can you also please give examples of an industry that's an oligopoly.
Asked by fudge_puppy - Wed Sep 3 08:55:50 2008 - - 1 Answers - 0 Comments
A. The word dynamic imply the running of time and the word allocate imply an evaluate made in only in present moment. In economics we see the efficiency in terms of technicals and economical criteria. A little complex mathematical demonstration show us oligopoly is not allocativelly efficient because, in gross terms, in short run is possible to make more production, sells and profits; this is because the presence of few companies requiere an effort in to interpret the economic conduct of competitors. In a dynamics context oligopoly create incentive to investment and difference of product for to beat competitors in an level more higher than monopoly and perfect competition.
Answered by CSI - Economics - Wed Sep 3 10:32:11 2008
Q. can you also please give examples of an industry that's an oligopoly.
Asked by fudge_puppy - Wed Sep 3 08:55:50 2008 - - 1 Answers - 0 Comments
A. The word dynamic imply the running of time and the word allocate imply an evaluate made in only in present moment. In economics we see the efficiency in terms of technicals and economical criteria. A little complex mathematical demonstration show us oligopoly is not allocativelly efficient because, in gross terms, in short run is possible to make more production, sells and profits; this is because the presence of few companies requiere an effort in to interpret the economic conduct of competitors. In a dynamics context oligopoly create incentive to investment and difference of product for to beat competitors in an level more higher than monopoly and perfect competition.
Answered by CSI - Economics - Wed Sep 3 10:32:11 2008
Is australian airline industry a non collusive oligopoly or a collusive one ?
Q. which is it?
Asked by theighth8@yahoo.cn - Wed Oct 22 02:11:18 2008 - - 1 Answers - 0 Comments
A. I'd say its non collusive. The industry is well regulated, competition is strong and the lack of large profits all suggest that there is little or no collusion present.
Answered by Ashley Challis akchallis@hotmail - Wed Oct 22 02:41:34 2008
Q. which is it?
Asked by theighth8@yahoo.cn - Wed Oct 22 02:11:18 2008 - - 1 Answers - 0 Comments
A. I'd say its non collusive. The industry is well regulated, competition is strong and the lack of large profits all suggest that there is little or no collusion present.
Answered by Ashley Challis akchallis@hotmail - Wed Oct 22 02:41:34 2008
5 Examples of Monopoly,Oligopoly,Monopl istic competition and Perfect competitions firms?
Q. I want to know 5 examples of each firm with the names of their country where they exist?
Asked by jahanzebna - Tue May 6 04:27:10 2008 - - 1 Answers - 0 Comments
A. Monopoly in Philippines Meralco, the only supplier of electricity in the country. in Saudi Saudi Arabian Airlines ...etc. Oligopoly caltex, shell, sea oil, petrol Monopolistic competition nestle, rebisco (in philippines)
Answered by I Know It All - Tue May 6 04:54:15 2008
Q. I want to know 5 examples of each firm with the names of their country where they exist?
Asked by jahanzebna - Tue May 6 04:27:10 2008 - - 1 Answers - 0 Comments
A. Monopoly in Philippines Meralco, the only supplier of electricity in the country. in Saudi Saudi Arabian Airlines ...etc. Oligopoly caltex, shell, sea oil, petrol Monopolistic competition nestle, rebisco (in philippines)
Answered by I Know It All - Tue May 6 04:54:15 2008
What are the similarities of a European Cartel and an American oligopoly?
Q. What are the similarities of a European Cartel and an American oligopoly?
Asked by Pilar J - Wed Dec 3 16:15:10 2008 - - 3 Answers - 0 Comments
A. A cartel and an oligopoly are essentially the same thing; both are a small number of firms combining to use market power to increase the price and reduce the amount sold to the profit maximizing point. In both cases, there must be a mechanism to keep new entrants out of the market, and a way to ensure that all participants are setting common prices, so that one firm does not overproduce and capture more of the profits than it is entitled to. Both cartels and oligopolies cause dead-weight loss, as more of the benefits of the market flow towards the producers, and possible mutually beneficial trades do not happen because of the higher price that the cartel or oligopoly charges.
Answered by William N - Wed Dec 3 16:37:55 2008
Q. What are the similarities of a European Cartel and an American oligopoly?
Asked by Pilar J - Wed Dec 3 16:15:10 2008 - - 3 Answers - 0 Comments
A. A cartel and an oligopoly are essentially the same thing; both are a small number of firms combining to use market power to increase the price and reduce the amount sold to the profit maximizing point. In both cases, there must be a mechanism to keep new entrants out of the market, and a way to ensure that all participants are setting common prices, so that one firm does not overproduce and capture more of the profits than it is entitled to. Both cartels and oligopolies cause dead-weight loss, as more of the benefits of the market flow towards the producers, and possible mutually beneficial trades do not happen because of the higher price that the cartel or oligopoly charges.
Answered by William N - Wed Dec 3 16:37:55 2008
What does the kinked demand curve model of oligopoly predict and what are the models main weakness?
Q. What does the kinked demand curve model of oligopoly predict and what are the models main weakness?
Asked by Mandi - Sat Jun 7 05:39:13 2008 - - 1 Answers - 0 Comments
A. The kinked demand curve predicts that reaction of demand for one of oligopolies members on change in price will not necessarily be the same (or reversed) in both directions due to specific reaction on change in price made by one of members. One of a weaknesses of this prediction is that it's not explaining well responses to changes in demand (don't confuse with movement along demand curve).
Answered by J - Tue Jun 10 21:28:36 2008
Q. What does the kinked demand curve model of oligopoly predict and what are the models main weakness?
Asked by Mandi - Sat Jun 7 05:39:13 2008 - - 1 Answers - 0 Comments
A. The kinked demand curve predicts that reaction of demand for one of oligopolies members on change in price will not necessarily be the same (or reversed) in both directions due to specific reaction on change in price made by one of members. One of a weaknesses of this prediction is that it's not explaining well responses to changes in demand (don't confuse with movement along demand curve).
Answered by J - Tue Jun 10 21:28:36 2008
Provide an example of a real-world industry or market that would be described by economists as an oligopoly ma?
Q. Provide an example of a real-world industry or market that would be described by economists as an oligopoly market.
Asked by The answer girl! - Mon Jul 6 14:59:03 2009 - - 2 Answers - 0 Comments
A. An oligopoly means there are a few members (sellers) in the industry. There are many examples such as (in the US anyway): 1) Soft drinks, Coke and Pepsi dominate 2) Automobile manufacturers, the three US makers and the three Japanese makers 3) Commercial airlines 4) Commercial aircraft manufactures, basically there is only Boeing and Airbus 5) As mentioned already, telephone service
Answered by Adoptive Father - Mon Jul 6 16:17:39 2009
Q. Provide an example of a real-world industry or market that would be described by economists as an oligopoly market.
Asked by The answer girl! - Mon Jul 6 14:59:03 2009 - - 2 Answers - 0 Comments
A. An oligopoly means there are a few members (sellers) in the industry. There are many examples such as (in the US anyway): 1) Soft drinks, Coke and Pepsi dominate 2) Automobile manufacturers, the three US makers and the three Japanese makers 3) Commercial airlines 4) Commercial aircraft manufactures, basically there is only Boeing and Airbus 5) As mentioned already, telephone service
Answered by Adoptive Father - Mon Jul 6 16:17:39 2009
the equilibrium price in the market characterized by oligopoly is?
Q. a) higher than in monopoly markets and higher than in perfectly competitive markets. b) higher than in monopoly markets and lower than in perfectly competitive markets. c) lower than in monopoly markets and higher than in perfectly competitive markets. d) lower than in monopoly markets and lower than in perfectly competitive markets.
Asked by chintan g - Sat Dec 1 12:06:22 2007 - - 1 Answers - 0 Comments
A. The correct answer is C because - Classical economic theory assumes that a profit-maximizing producer with some market power (either due to oligopoly or monopolistic competition) will set marginal costs equal to marginal revenue. This idea can be envisioned graphically by the intersection of an upward-sloping marginal cost curve and a downward-sloping marginal revenue curve (because the more one sells, the lower the price must be, so the less a producer earns per unit). In classical theory, any change in the marginal cost structure (how much it costs to make each additional unit) or the marginal revenue structure (how much people will pay for each additional unit) will be immediately reflected in a new price and/or quantity sold of the… [cont.]
Answered by Tom Z - Sat Dec 1 14:23:41 2007
Q. a) higher than in monopoly markets and higher than in perfectly competitive markets. b) higher than in monopoly markets and lower than in perfectly competitive markets. c) lower than in monopoly markets and higher than in perfectly competitive markets. d) lower than in monopoly markets and lower than in perfectly competitive markets.
Asked by chintan g - Sat Dec 1 12:06:22 2007 - - 1 Answers - 0 Comments
A. The correct answer is C because - Classical economic theory assumes that a profit-maximizing producer with some market power (either due to oligopoly or monopolistic competition) will set marginal costs equal to marginal revenue. This idea can be envisioned graphically by the intersection of an upward-sloping marginal cost curve and a downward-sloping marginal revenue curve (because the more one sells, the lower the price must be, so the less a producer earns per unit). In classical theory, any change in the marginal cost structure (how much it costs to make each additional unit) or the marginal revenue structure (how much people will pay for each additional unit) will be immediately reflected in a new price and/or quantity sold of the… [cont.]
Answered by Tom Z - Sat Dec 1 14:23:41 2007
Why is it easier to collude in an oligopoly industry than in a price taking industry?
Q. Why is it easier to collude in an oligopoly industry than in a price taking industry?
Asked by Yasin P - Sat Feb 23 18:08:07 2008 - - 1 Answers - 0 Comments
A. Number and size distribution of sellers Similar easier to collude Product heterogeneity Homogeneous easier to collude Cost structures Similar easier to collude Size and frequency of orders Frequent smaller easier to collude Secrecy and retaliation Less secrecy, easier retaliation easier to collude Social structure of the industry Social interaction easier to collude (kitapta sayfa 292 ide kontrol et)
Answered by umutandzen - Tue Feb 26 14:23:42 2008
Q. Why is it easier to collude in an oligopoly industry than in a price taking industry?
Asked by Yasin P - Sat Feb 23 18:08:07 2008 - - 1 Answers - 0 Comments
A. Number and size distribution of sellers Similar easier to collude Product heterogeneity Homogeneous easier to collude Cost structures Similar easier to collude Size and frequency of orders Frequent smaller easier to collude Secrecy and retaliation Less secrecy, easier retaliation easier to collude Social structure of the industry Social interaction easier to collude (kitapta sayfa 292 ide kontrol et)
Answered by umutandzen - Tue Feb 26 14:23:42 2008
From Yahoo Answer Search: 'Oligopoly'
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... kerjasama internasional justru harus lebih diberdayakan mengingat pasar internasional diprediksikan akan bergerak dari pure competitive menuju oligopoly ...
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ue, 09 Mar 2010 23:36:40 GM
It was one thing for BHP and Rio to team up against the Chinese, but the thought of ye auld iron ore rivals Australia and Brazil actually getting together in a seaborne . oligopoly. must have the Chinese quaking in their boots. ...
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