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q explain the problem involved in consumer price indexto explain the problems involved in calculating cpi we consider mp3 players if you measure the
q what do you mean by price indexbecause we are only interested in percentage change of the price level and not particular value we can divide every
q describe about price level and timewe are hardly interested in the value of price level at a certain point in time what we are interested in is
q define the prices and price levelprices are of great significance in macroeconomics as undeniably they are in microeconomics though in
oligopoly can be characterized as follows small number of sellers there are more than one sellers of a product though the number isnt so huge in
mrs john robinson- oligopoly is market situation in between monopoly and perfect competition in which the number of sellers is more than one but is
q what do you mean by oligopolytype of market condition that is most appropriate in the todays economy is oligopoly its characterised by mutual
it indicates the amount of output by that long run output of the firm under monopolistic competition falls short of the ideal output this is regarded
since the 1990s there has been an increasing number of regional trade arrangementsrta according to wto in 2012 the number of rta increase 2 fold
the aim of monopolist is to maximise profit therefore he would produce that level of output and charge that price which gives him maximum profits he
q illustrate the sources of monopolymerger for large-scale production thirdly monopoly undertaking can be a consequence of the necessity to produce
q controlover supply of inputs - sources of monopolyfurthermore a monopoly situation may arise because of control over the supply of an essential
legal sanction a monopoly as stated above may be the result of a government sanction the government of a country may legally permit a private
to eliminate competition and thereby secure higher prices firms producing a specific product can come together and make monopoly agreements these are
q what do you mean by legal monopolylegal monopoly some monopolies are engendered and protected under various laws inventors of new processes devices
q illustrate fiscal monopolyfiscal monopoly to stop exploitation of consumers andemployees government nationalises many industries and obtains
q describe the public utility monopolypublic utility monopoly governmental authorities seize complete management and control of some utilities to
q define the natural monopolynatural monopoly natural monopoly is because of natural factors for illustration a particular raw material is
q show the characteristics of monopolylets summarise the main characteristics of monopoly as under cross-elasticity of demand for a monopoly product
1 prof thomas generally the term monopoly is used to cover any effective price control whether of demand or supply of services or goods hardly it is
q what is monopolythe term monopoly has been derivative of greek term monopolies that means a single seller so monopoly is a market condition in that
we can analyse the equilibrium of a firm under perfect competition in both the long run as well as in the short-runshort run equilibrium of a firm
q characteristics of perfect competition marketfollowing are the characteristics of perfect competition market bull large number of sellers
1 prof marshall the more nearly perfect a market is the stronger is the tendency for same price to be paid for same thing at the same time in all
q types of market structures by the nature of competitionconventionally the nature of competition is assayed to be the basic criterion for