Oligopoly

Although Adam Smith and Karl Marx have radically different economic theories, both their ideologies have the same goal in mind: greater freedom. Their divergent views therefore arise from their different ideas of what freedom is. Smith ties freedom to financial gain whereas Marx ties freedom to financial ownership. These differing views on freedom can be seen in their different attitudes towards machinery. While Smith sees machinery as furthering the efficiency of society which he connects to…

Q1 (a) The demand can be defined as willingness and ability of consumers to pay and supply can be defined as the willingness and ability to sell. Besides, a tax is a type of measurement for the government to regulate the market and it can get a revenue from that. In fact, a tax will make both supply and demand decrease because buyers should pay a higher price and sellers will spend cost more money to supply. The diagram of tax on sellers will be shown following. As shown in diagram (a), the…

The Muslim Brotherhood is a Religious Non Government Organization that operates in Egypt who have developed their political ideology through competing in a previously secular political space. The Muslim Brotherhood fill the void in Egyptian Governments social programs through supplying aid to underdeveloped parts of Egypt in the form of education, medical aid, and acts of charity & welfare on behalf of the community, however their work is self motivated as it seeks to both spread the word of…

Net Neutrality and Data Discrimination “They who can give up their essential liberty to obtain a little temporary safety deserve neither liberty nor safety.” Benjamin Franklin, Memoirs of the life & writings of Benjamin Franklin. When you sacrifice your freedoms for security you deserve neither. The same goes for internet freedoms. When you sacrifice the freedom and openness of the internet for any type of law you deserve nothing. The internet started on the basis of the words, free, open and…

This can be referred to as the insurance companies and the government public programs. By its very nature insurance causes a phenomenon known as “moral hazard”. Unlike most other industries, in health care a third party actually pays for most of the services used instead of directly by the consumer. The consumer’s out-of-pocket costs are therefore lower than the cost of the services. This shields them from the knowledge what the prices are, and increases usage of the services, thus driving up…

Since the early 20th century De Beers Corporation has had a monopoly on the world’s diamond supply. This monopoly has essentially enabled them to set the price for diamonds as they made up the largest market share, thus at their peak they controlled up to 80% of the worlds rough diamond supply. Through their tactic of restricting the supply of diamonds, the De Beer Corporation has made diamonds, into a luxury good. Over the past 100 years they have consolidated their vast share of the market…

1. Introduction 1.1 Company Interport BV was founded in 1991 and is specialized in road transport to and from Spain and Portugal. Interport has nearly 25 years of experience, therefore they have a great knowledge of the market, legislation and culture. The head office Interport B.V is located in Amsterdam Airport and the other office Interport S.L is located in Barcelona Airport. Interport does not only know the roads, as well as the language and culture. Interport ensures that goods arrive…

from 100 million today to 170 million by the year 2007. These numbers indicate that drug retailing is as powerful and well positioned as any segment today. Essentially, there are four major drug chains today; WAG, CVS, Rite Aid and Eckerd. The oligopoly type nature of the sector has quietly given the major players leveraging and negotiating power against the managed care companies. As a result, pharmacy gross margin decline has been lessening as some of these chains have played hardball…

Refer to Table 17-12. Which outcome is the Nash equilibrium in this game? a. Up-Right b. Up-Left c. Down-Right d. Down-Left 8. The Condorcet paradox a. proved that the Arrow impossibility theorem is wrong. b. was proved wrong by the Arrow impossibility theorem. c. serves as an example of the Arrow impossibility theorem. d. pertains to voting systems, whereas Arrow's Impossibility Theorem does not. 9. When each voter has a most-preferred outcome for the expenditure on a…

Overview: In 1986 Steve Jobs purchased the computer graphics division from George Lucas and established an independent company to be named “Pixar” based in California, United States. Pixar was acquired by Disney in 2006 for a sum of 7.4 billion dollars and the deal was finalized by Steve Jobs who is the apple computer chief executive and was the head of computer animation firm. Jobs also made a deal that allowed Pixar to have all their films distributed and take their split of profits from…