Monopolistic competition

Lebanon is a country ridden with cultural diversity and religious miscellany. It gives verve and vigor to its people’s everyday life and allows them to grow up surrounded by different cultures and therefore able to gain an open-mindedness that is hard to find in other Arab countries. Even though there are good points that come out of this cultural and religious diversity, it also acts to divide its people politically and adds a certain complexity to the Lebanese government. This complexity is…

They are in 100 countries but they are still considered to be in a competitive market in the fast food industry. Much like McDonald’s, Subway can also be considered in a monopolistic competition, because their brand is well known. Subway is able to be in so many countries by franchising their restaurants. They currently have 44k locations across the world. Subway does not own any of the restaurants, instead they are owned by 21,000…

of money in circulation can also be regulated by selling and buying government bonds. (Mankiv, 2012) 2.3 Impact of competition policy and other regulatory mechanisms on the activities of a selected organisation The aim of the competition policy is to manage competition amongst organisations. Without these policies, prices of goods and services can easily rise. Four leading competition policies in the UK and in the European Union include the state aid control, the market liberalisation, antitrust…

of where their companies stand in such fierce competition (TheStreetStaff). Furthermore, it becomes vital to know or have a understanding of the industry the companies in, and the major players in it. If the market is dominated by a couple major players, then it may not be a good idea to invest in a startup company looking to get in the field. Competition between companies serves as a fundamental ideal of capitalism, and the result of such competition can change the dominance or status of the…

organizations, the latter at the expense of worker pay. During the industrial revolution of the 1850s and 1860s, employers recognized early that competitive gains came from producing goods at lower wages. Conversely, labor wanted wages excluded from competition (Holley, Jennings & Wolter, 2012). Post industrial revolution through the advent of the modern labor union, English common law prevented workers from organizing together to “pressuring their employer to improve wages” (Holley, et.al,…

fails to present sufficient evidence to convince his audience that the politically right actually agrees with the definitions that Long claims they support. For example, the author claims the right uses the term privatization to mean granting of a monopolistic contract for a service or job. He does not mention, or give examples of situations where this has occurred or speak of anytime where the right has agreed with this definition. He simply says the right took the term and twisted it into the…

Has it gotten as far as becoming a Monopoly? Depending on how individuals view Walmart it can be considered both a Monopoly and an Oligopoly. In the article "Wal-Mart and its Monopolistic Market Structure" the author states that Walmart is considered an oligopoly because there are a few other firms who compete with Walmart. Such as Kmart and Target which are both very similar shops to Walmart and carry much similar merchandise.…

What I have learned in microeconomics. It has been a great journey taking, and being part of the online economics class. It has been great learning more than one lesson in this class. The study of this class has taught me a lot both in the economics field, and also in life experiences. The economics class has made a different person than I was before taking the course. It has helped me increase my knowledge, skills and thus increasing my human capital. My economics class has…

globalization is the illusion of free trade. Free trade, in theory, requires a reasonable amount of macroeconomic stability, perfect competition, modern institutions, prices…

Importance of advertising and selling costs which plays a significant role in the oligopolistic market structure. It is due to the companies aiming to maximise profits and market share which moves them towards aggressive advertisement to combat competition. 3. Group behaviour which states that due to the small number of companies, oligopolistic firms are interdependent as they are in the group. They do not behave in such a way to maximise profits and compete against each other due to saturated…