This Perfect Day

very few companies can compete with Microsoft’s technology due to barriers to entry and its extensive customer and developer base in the market. This situation is called the monopoly. Monopoly is “a term used to refer single supplier in a market. For regulation, monopoly power exists when a single firm controls 25% or more of a particular market.” In this kind of market, a seller is called as price maker as there is a single seller in monopoly who controls the prices in particular product and…

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…

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 on each other for taking price and output decisions. 3. Barriers to the Entry of Firms: There are barriers to entry in an oligopoly market. The main reason for few numbers of firms in oligopoly is the…

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…

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…

makes insurance companies even more vulnerable to the macroeconomic environment, with monetary policy determining to an extent the terms of competition in the market. In detail, rivalry is alleviated through increasing returns on investment, as in this case insurers do not have to engage in premium increases competing intensively over new underwritings. Accordingly, diminishing returns on investment through low interest rates provokes rivalry and premium increases, with players having better…

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…

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. This is what Donald L. Barlett and James B. Steele try to…

If you were a sports fan in Hartford the day of my birth you had probably traveled to Dell Rapids the night before to see the West Central Boys basketball team. The Trojans, who defeated the Quarriers 76-68, were lead by Tucker Hansen, who had 23 points (“West Central 76, Dell Rapids 68” 4C). Also from around the Sioux Empire the police were searching for the driver of a truck that hit a pedestrian. The driver of truck hit a man from behind on 31st Street North and between Cliff and Van Eps…