Question
What do we mean by monopoly and give me simple example? what does equity in market efficiency mean in a simple way with example? What
What do we mean by monopoly and give me simple example?
what does equity in market efficiency mean in a simple way with example?
What do we mean by oligopoly and give me simple example?
What do we mean by natural monopolies and give me simple examples?
What do we mean by government monopolies and give me simple examples?
What do we mean by market power and give me simple example?
What do we mean by predatory pricing and give me simple example?
what are the three insights concerning market outcome?
What do we mean by total revenue?
What do we mean by total cost?
What do we mean by explicit cost with examples?
What do we mean by implicit cost with examples?
In which case the economical profit is larger than accounting profit? in a very simple way as possible
Four conditions of monopolistic (give me 1 line answer only for following with simple examples)
- Many firms
- Few artificial barriers to entry
- Slight control over price
- Differentiated products
How do firms in monopolistic competition get customers (provide simple answer 1 line only with examples)
Four conditions of nonprice competition (give me 1 line answer only for following with simple examples)
- Characteristics of goods
- Location of sale
- Service Level
- Advertising image
How do oligopolies work? (Give me 1 line answer only for following with simple examples)
- Collusion
- Price Fixing
- Cartels
4 forms of Anti-trust law (Give me 1 line answer only for following with simple examples)
- Regulating Business Practices
- Breaking Up Monopolies
- Blocking Mergers
- Preserving incentives
Note : All answers should be written in a very simple way with basic English language and vocabulary ( Max 1 line answer as possible to the point)!!!, not need to write more.
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