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.
Relative to evenly strong, smart, and hard-working people along with less education, and the high school graduates who invest most heavily within more advanced formal education are probable to experience lower average: (w) wages when first entering th
The substitution consequence on labor supply decision of an individual is more powerful than the income effect while: (1) higher wage rates result within increased hours worked. (2) cuts in wage rates yield discouraged worker effects. (3) the supply c
Where managerial economics treat as a tool? Answer: Managerial economics is like a tool for decision making and forward planning.
Explain the meaning of Elasticity?
When a firm is a price taker in the labor market, in that case the: (w) wage is constant for any quantity of labor this would hire. (x) marginal resource cost of labor is constant for any quantity of labor this would hire. (y) wage equals the marginal
By the following choices in this illustrated graph, this worker would be happiest at point: (w) point a. (x) point b. (y) point c. (z) point d. Q : Quantity demand declines back and up in Suppose that the auto market started at the intersection of S0 and D0, and subsequently higher labor costs drove up prices for latest cars. How will it influence the market for automobiles?: (w) Higher wages for auto workers drive up the total ma
Suppose that the auto market started at the intersection of S0 and D0, and subsequently higher labor costs drove up prices for latest cars. How will it influence the market for automobiles?: (w) Higher wages for auto workers drive up the total ma
States the implicit cost concept briefly.
The demand curve for labor can be demonstrated as a negative relationship between: (w) the quantity of labor demanded and the wage rate. (x) labor productivity and the quantity of labor used. (y) employment and output. (z) wages and GDP.
Illustrates the Demand function of a commodity?
18,76,764
1956828 Asked
3,689
Active Tutors
1453225
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!