--%>
Assignment Help - homework help

Illustrates the characteristics of Oligopoly

Illustrates the characteristics of Oligopoly?

E

Expert

Verified

Oligopoly:

It is a distinct market condition. This has the given features as follows:

  • There is an component of Monopoly
  • Advertising must be effective.
  • The firms are interring dependent for decision making.
  • Firms must have group behavior.
  • The number of producers or firms or sellers is extremely small.
  • Indeterminateness of demand curve.
  • Product is the same or closes substitutes to each other.

 

   Related Questions in Managerial Economics

  • Q : HW Hello, Would you please find a small

    Hello, Would you please find a small case study in managerial economics. please I don't want the typical solution because the prof have it. thanks

    		•
  • Q : Explain short term Demand forecasting

    Explain short term Demand forecasting.

    		•
  • Q : Wage Rates and Marginal Resource Costs

    When all markets wherein a firm operates are purely competitive, in equilibrium the marginal resource cost of labor is the same to the: (w) firm’s marginal revenue. (x) marginal cost of output. (y) wage rate the firm must pay to hire more worker

    		•
  • Q : Diminishing Marginal Productivity of

    Workers tend to be less productive at the margin like they work along with increasingly huge amounts of: (w) physical capital. (x) personal human capital. (y) technology which makes them narrow specialists. (z) labor from other people on an assembly line.

  • Q : Supply of certain types of labor The

    The supply of certain types of labor is determined through the: (w) skills of potential workers. (x) the availability of other workers. (y) the prices of output. (z) production technology. I need a good answer on the topic of

  • Q : Illustrates the pricing policy and

    Illustrates the pricing policy and practices?

    		•
  • Q : Define the going rate pricing briefly

    Define the going rate pricing briefly.

    		•
  • Q : Determine marginal resource cost of

    If hiring hundred extra workers increases the firms total cost through $10,000, and each extra worker increases output from 50 units, in that case on the average: (w) profit will fall by $10,000. (x) the value of the marginal product of labor is $10,0

    		•
  • Q : Backward bending supply curve for labor

    A backward bending supply curve for labor arises while: (w) firms wish to hire only a specific quantity of labor. (x) there is a change in the elasticity of resource supply. (y) workers prefer leisure over added income above several wage. (z) minimum

    		•
  • Q : Explain the decision making areas of

    Explain the decision making areas of the decision making.

    		•