Perfect crime

services. The market structure has a great influence on the behaviour of individuals firms in the market and will affect how firm price their product in the history. They are four basic market structures which are perfect competition, monopolistic competition, monopoly and oligopoly. In a perfect competition market structure several firm are present who all produce identical products…

The principle of competitive exclusion, also known as Gause’s principle, tells us that it is impossible for any two organisms to occupy the same niche without one of them going extinct (Hardin 1960; Gause 1934). This principle is easy to see in frugivores, grainivores, and carnivores that use discrete food packets, such as an insect or seed (Hanley 1982). MacArthur (1958) clearly demonstrated that each species is uniquely adapted to their niche and their competitive advantage prevents niche…

A Few Firms: Oligopoly is a market structure where there are only few firms, or a few large firms controlling a big size of its output. 2. Firms are mutually Dependent: The most important feature of oligopoly is that firms are mutually dependent in decision making which means that firms consider the market conditions carefully. The firms carefully consider the actions one firm and its effects on the competitor and how its competitors are likely to react. This makes the firms mutually dependent…

Monopolistic competition is a type of imperfect competition, under this a large number of sellers offer heterogeneous products (different products but has close substitutes) for sale to buyers. The term monopolistic competition was coined by Prof. Edward H. Chamberlin of Harvard University in 1933 in his book, Theory of Monopolistic Competition. Monopolistic competition is currently the most realistic situation that exists in the market. Monopolistic competition can be defined as a competitive…

and Sainsbury. Fixed Broadband service in the UK is also taken control by 4 suppliers . They are BT (32%), Sky (22%), Virgin Media (20%) and TalkTalk (14%). Perfect competitive market: Perfect…

1. Why are most construction companies small in size? Based on the explanation given in previous lectures of COSC 620 course. The size of construction companies is based on the theory of ‘Economies of Scale’. The concept of ‘Economies of Scale’ is originated from microeconomics, which states that there are more advantages for organizations/enterprises to run at a larger scale to minimize the impact of risk and spread out overheads/cost overruns. For example a smaller company handling less…

The diversification of services and the specialization of players in certain lines of insurance alleviate rivalry to an extent. For instance, State Farm, Allstate, Liberty Mutual and Berkshire Hathaway are only engaged in non-life insurance, following different underwriting business models, while large insurers, MetLife, Prudential and New York Life Insurance operate in then life-insurance segment. However, most of the players present similar business models and offer similar services which…

In order to know and understand the term monopoly and whether or not Microsoft was ever considered or still considered a monopoly. One must first define and understand what a monopoly is. According to Bennett, (2016), monopoly is “a market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute”. Microsoft is an organization that was accused of being a…

revolutionized the way people purchase electronics and customer’s buying power has been increasing since this represent a major threat for the industry retailers. Buyers are price sensitive and demand high quality products. Today, customers have access to perfect information through out the online tools about price availability from different competitors in the industry and low switching costs. Retailers have launched different marketing strategies to remain competitive by implementing price…

“Monsanto’s Harvest of fear” Analysis Monopolizing on a certain product is a business practice that has been used for decades. While this practice is extremely beneficial to those who succeed in doing it, it is simultaneously harmful to every other business owner, usually smaller franchises, in the same line of work. While the one large business continues to profit, the smaller business owners usually go out of business or, if they’re lucky, loses an extremely large percentage of their sales.…