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ideal market condition: large number of sellers of identical goods
a market structure in which many companies sell products that are similar but not identical
attempt by seller to convince buyers its product is different and better
a market structure in which a few large firms dominate a market
one firm sets its price first, and other firms then follow
effort by producers of a particular product to secretly set production levels or prices
A market situation where the costs of production are minimized by having a single firm produce the product.
market structure in which one firm has a monopoly in a geographic area
a document granting an inventor sole rights to an invention
monopoly operated and owned by the government
SETTING OF DIFFERENT PRICES FOR DIFFERENT
BUYERS UNDER THE SAME CIRCUMSTANCE
(economics) a market in which there are many buyers but only one seller
to point out something that distinguish an item from similar items
non price competition
any attempt by seller to attract customer from its competitors
setting of price in a manner responsive to or dependent in ones competition
series of price reduction that hurts the seller
group of producers/sellers of a certain good/service who unite to control price, outpput, and market share
economies of scale
factors that cause a producer's average cost per unit to fall as output rises
type of monopoly where methods or equipment allow a firm to be more dominant
a document granting exclusive right to publish and sell literary or musical or artistic work
a group of companies join force to eliminate competition in an industry and therfore going monopoly
the doctrine that government should not interfere in commercial affairs