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Competing firms are termed as colluding when they make some agreement about output and pricing. These agreements may be either facet or formal. But open or formal agreements are not legal in most countries. The oligopolists’ agreement between two firms is generally secret or tacit. A collusive oligopoly comes into the frame when the firm…
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The price process is directly connects with the worth of a service, product or concept in terms of the amount of money available at a particular moment that the marketing manager decides to promote it to potential customers. Precisely, Pricing involves establishing objectives, determining flexibilities, establishing strategies, setting prices, and controlling implementation. Importance of Pricing…
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Kinked Demand Curve, is an oligopoly model. Paul M. Sweezy and Hall and Hitch develop this model. Through the analysis of kinked theory of demand in oligopoly market, the author attempted to prove that price and output tend to stabilize and do not change under oligopolistic conditions and trends. Kinked Demand Curve Price cuts match…
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Punctuations are necessary, but how does a punctuation checker help remove punctuation mistakes? Good text isn’t just readable for simple words but also because of clever use of punctuation and content breaks. Today, we’re going to talk about the importance of a punctuation checker and how it can help tend to issues related to it. So,…
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Every school provides plenty of educational options. All the schools offer various programs, two commons are the O-level (Ordinary level) and IGCSE (International General Certification Of Secondary Education) exams. There are major differences between the IGCSE and O-Level that we will discuss in the next segment. In general, It could be said that there are…
An oligopoly market is a situation in which there is a tremendous amount of competition between several large companies and a degree of interdependence within the firm’s decision-making. Every company recognizes interdependence. Every decision one company makes (be it price, product, or even promotion) impacts the competitor’s trade, resulting in counter moves. It leads to…
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There are many types of budgets and budgets are very crucial aspects for every business. Budgets are usually classified according to their specific type. The most frequently used budgets are: Major 3 Types of Budgets On the Basis of Time The budget based on time is as follows: 1) Long-Term Budgets Budgets have a longer…
As there is product differentiation between firms in a monopolistic competitive market, a perfectly elastic demand is not available to the firm for its products. Each firm can determine its product’s price, and thus each firm is termed a price maker. Now, we will come to know about the price and output determination in monopolistic…
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Monopolistic competition refers to a situation in which several companies sell different products on the market. “There is fierce competition, but it is not perfect. However, numerous firms offer identical products.” Companies cannot exert any influence discernible from the other’s pricing-output policy. So, monopolistic competition refers to competing among sellers that create close substitutes for…
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The demand curve for the company is identical to the demand curve for market services under the monopoly. Market demand curves tend to slope downwards as monopolists confront downward-sloping demand curves. To maximize profits, firms must operate at a maximum output level at which margin revenue and marginal cost are equal. Price makers are firms…
