CS605 MIDTERM SOLVED PAPERS BY MOAAZ
This implies over the long haul, a monopolistically serious firm will create zero financial gain. This provides the organization with a specific measure of impact over the market; due to mark reliability, it can raise its costs without losing its clients as a whole.
This implies that a singular association’s interest bend is descending slanting, rather than amazing rivalry, which has an entirely flexible interest plan.
SHORT-RUN AND LONG RUN UNDER MONOPOLISTIC COMPETITION: In the short run, very ordinary benefits are conceivable, in any case, in the long run just typical benefits can be procured. Balance acquires where the AR bend becomes digression to the AC bend.
Public interest relies on the place of AC at the mark of intersection. In the event that the AR bend is steep, the place of juncture will deliver a result that will be well to the left or right where P= MC or P=AC least. Since items are separated, there is room and reasoning for publicizing and item advancement.
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MARKET STRUCTURES (CONTINUED)
OLIGOPOLY Similar to syndication as in there are few firms (around 2-20) on the lookout and, in that capacity, boundaries to section exist. It is like ideal rivalry as in firms contend with one another, regularly hotly, which might bring about costs basically the same as those that would get under amazing contest. It is like a monopolistic contest since it is plausible of having separated items.
Distinction OF OLIGOPOLY WITH OTHER MARKET STRUCTURES An oligopoly is a market structure in which a market or industry is overwhelmed by few dealers (oligopolists). The word is gotten from the Greek for few merchants. • Because there are not many members in this sort of market, every oligopolist knows about the activities of the others.
The choice A cartel is probably going to endure when the quantity of firms is little, there is transparency among firms with respect to their creative processes; the item is homogeneous; there is an enormous firm which goes about as cost pioneer; the industry is steady; government’s severity in executing hostile to trust (or against agreement) regulations. Govt guidelines are vulnerable against universally functional cartels or when a conspiracy is implied (or stowed away) not expressed.