What is Oligopoly, explain in brief
What is Oligopoly? Explain in brief.
Expert
Oligopoly is a situation wherein there are so only some sellers which each of them is conscious of the results on the price of the supply. It is the individually places on the market. In words of J .Stigler `Oligopoly is that situation wherein a firm bases its market policy in part upon the expected behavior of some close revels. Additionally, they may produce homogeneous or differentiated products.
A firm along with extreme managerial slack (i.e., X-inefficiency) can best survive when, it: (1) maximizes its economic profits. (2) spends large amounts on marketing and advertising. (3) has important market power and faces little potential competiti
Explain the follow-up pricing.
Explain the reasons for demand curve slopes downward.
When the substitution effect of a wage raise dominates the income effect, in that case the: (1) labor supply curve will be "backward bending." (2) value of the marginal product will exceed the wage rate. (3) labor force participation
Illustrates the factors changes in demand?
A competitive demand of employer for labor is: (1) derived from the demand that exists for the firm’s output. (2) inverted compared to regular demands. (3) shifted rightward by hikes in real wage rates. (4) positively sloped. (4) determined thro
What are the merits and demerits of Scarcity Definition of economics?
Differentiates between short run and long run costs?
The supply curve of labor is LEAST probable to be “backward bending” for: (1) an individual worker. (2) the economy as a whole. (3) highly specialized industries which are main employers of dedicated PhDs hired only after
Hello, Would you please find a small case study in managerial economics. please I don't want the typical solution because the prof have it. thanks
18,76,764
1930013 Asked
3,689
Active Tutors
1456083
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!