Elucidate how to maintain competition
Elucidate how to maintain competition?
Expert
1. Competition is the market mechanism that encourages producers and resource suppliers to respond to consumer sovereignty.
2. If producers (and/or resource suppliers) have monopoly power, the monopolist can charge higher-than-competitive prices and supplant consumer sovereignty with producer sovereignty (or economic rent).
3. If “natural monopoly” exists, government regulates price and service. (Natural monopoly exists when technology or economic realities make a monopoly more efficient than competition.)
3. Where competitive markets are more efficient, anti monopoly laws (Sherman Act of 1890; Clayton Act of 1913) are designed to regulate business behavior and promote competition.
Questions: 1: Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice. Q : Elucidate the overview of Business Cycle Elucidate the overview of Business Cycle?
Elucidate the overview of Business Cycle?
Illustrate a summary of what can cause an increase in demand?
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
Adam Smith known three advantages rising from divisions of labor which would lead to greater economic wealth that did not include the concept that the division of labor: (w) helps every worker refine specialized skill
Can someone help me in finding out the right answer from the given options. In resource markets in a simple circular flow model, house-holds exchange their _________ for _________. (1) Resources | income. (2) Goods | profits. (3) Labor | goods. (4) Devotion | enlighte
Specify and explain the shapes of the marginal-benefit and marginal-cost curves and use these curves to determine the optimal allocation of resources to a particular product. If current output is such that marginal cost exceeds marginal benefit, should more or l
Nature and Scope of Economics: Introduction Economics is a social science that
How will the system accommodate change?
Favor laissez- faire economic policies tended by Adam Smith, who also: (w) saw the requirement for several state intervention. (x) believed there were no conditions in which the government must intervene. (y) supported most government
18,76,764
1929192 Asked
3,689
Active Tutors
1436337
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!