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.
When the income effect of a wage raise is more powerful than the substitution effect, in that case the: (i) labor supply curve will be “backward bending.” (ii) unemployment rate will rise since more people will be av
Occupational licensing often requires qualifications with small relevance for performance in a specific position before an individual can legally be hired. Artificial and inefficient barriers to the practice of specific occupations, such as dog groome
When this purely competitive labor market is primarily in equilibrium at D0L, S0L, a moving step to equilibrium at D1L, S0L would be probably to follow from increases in: (w) imports of this good by foreign competitors. (x)
What are the external factors in governing prices?
what is that policy that talks about not changing the policy frequently?
During a competitive resource market, every firm confronts a resource supply curve which is: (w) upwardly sloped. (x) backward bending. (y) perfectly inelastic. (z) perfectly elastic. I need a good
Illustrates the definition and meaning of managerial economics?
What is Increasing Returns to scale?
State the causes for downward sloping of demand curve?
Illustrates the major objectives of demand analysis?
18,76,764
1937610 Asked
3,689
Active Tutors
1436525
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!