KINKY DEMAND CURVE

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KINKY DEMAND CURVE It is Impossible to find a single centralised solution III the problem of oligopoly pricing. This is because or the difficulty of knowing the exact position 01 the demand curve racing a firm under oligopoly. This in turn is due (. , he fact that the effect of a given price change by a seller […]

PRICE LEADERSHIP UNDER OLIGOPOLY

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PRICE LEADERSHIP UNDER OLIGOPOLY In an oligopolistic situation. there are more than two or a few sellers who arc able to exercise monopolistic influence. such a market situation. We generally find that there exists what is called the ‘price leadership’. Under price leadership. one finn a surnes the role of a price leader and fixes the price of the product for the […]

Collusive Oligopoly

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Collusive Oligopoly ‘Cartel’s are a kind of ‘collusive’ oligopoly. OPEC’ Organisation of Petroleum Export countries is one of the example of collusive oligopoly, In this type uf oligopoly, a group is formed under ali agreement, where they decide regarding price of the product output and area of distribution and marketing. Collusive oligopoly is a kind of market in which the whole […]

EVILS OF OLIGOPOLY

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EVILS OF OLIGOPOLY There is generally a continuous price war which finally results in disastrously low level of prices. Whcn some of the producers find themselves at an advantage. they wiLL push up the prices crca!in)! an anomalous and discriminatory pattern of prices charged from the consumers. Such cut-throat competition in industries characterised by heavy overheads and increasing costs proves ruinous to […]

Chamberlin Model

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Chamberlain Model  Unlike Corrupt and Edgeworth made ls. Chamberlin model is based on the assumption that both thc producers recognise their mutual interdependence. The following diagram explains the model  Suppose  pluck A enters the krt first. DB is the demand curve and OL is the total output he chooses to produce. It is sold at price and the total profit made is OLlA. […]

KINKY DEMAND CURVE

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KINKY DEMAND CURVE It is Impossible to find a single gcncralised solut illn III the problem of oligopol y pricing. This is becau .e or the difficulty of knowing the exact position 01 the demand curve racing a firm under oligopoly. This in turn is due (. , he fact that the effect of a given price change by a […]

Edgeworth Model

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Edgeworth Model The basil’ difference between this model and the cournot model is that ill Cournot model. the output (and not the 111ice) of the rivul firm is assumed to remain unchanged. llcrc. the Rival firm is supposed tn keen unchanged. The following diagram illustrates the situation. It is assumed that each producers capacity is limited tu J/4th of his entire market […]

OLIGOPOLY AND DUOPOLY

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OLIGOPOLY AND DUOPOLY have so Iar discussed where there is a very large number of producers supplying a market as under perfect competition. or a millie monopolist an individual or a single group or individuals. dominates the enure nuu kct, or there arc many producers as in imperfect competition hut not as many ‘” ill perfect competition. But other situation may […]

CASE STUDY

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CASE STUDY IS THE U.S. TRADE DEFICIT A NATIONAL PROBLEM? You may have heard the press call the United States the world’s largest debtor.The nation earned that description by borrowing heavily in world financial markets during the past two decades to finance large trade deficits. Why did the United States do this, and should this event give Americans […]

PROBLEMS AND APPLICATIONS

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PROBLEMS AND APPLICATIONS 1. Among monopoly, oligopoly, monopolistic competition, and perfect competition, how would you classify the markets for each of the following drinks? a. tap water b. bottled water c. cola d. beer 2. The New York Times (Nov. 30, 1993) reported that “the inability of OPEC to agree last week to cut production has sent […]