Economics

Firms can use the first mover advantage during the growth stage of the product life cycle.

Started by ishan

If a firm can discriminate, it will charge the higher price in the market with the least elastic demand.

Started by cherise1989

The frequency and magnitude of price changes is likely to vary from product to product.

Started by tiara099

One form of tacit collusion is for firms to follow simple 'rules of thumb'. An example is that of ...

Started by yoooooman

Firms must make enough profits to survive. But this does not make them profit maximisers.

Started by Anajune7

If the number of rival firms decreases this will tend to lead to a higher level of organisational slack.

Started by penza

A sales revenue maximising firm will only make normal profits unless sales revenue is maximised ...

Started by oliviahorn72

When firms adopt a satisficing approach with multiple targets their production is likely to be less ...

Started by Shelles

In a multiple-move game there is likely to be a first-mover advantage to the firm making the first ...

Started by acc299

The prisoners' dilemma refers to a situation where firms choose to co-operate to avoid the Nash equilibrium.

Started by Mr. Wonderful

The existence of a kinked demand curve in an oligopoly will make market prices unstable.

Started by Coya19@aol.com

Under oligopoly the price charged by one firm is likely to affect the price charged by other firms ...

Started by stock

Collusion between firms is more likely to break down if there is a reduction in the barriers to ...

Started by ss2343

Concentration ratios are a good guide to the degree of competition when an industry competes with ...

Started by bobbysung

Oligopoly is the most frequently occurring of the four market structures. Oligopolies, however, ...

Started by Tirant22

The following diagram shows cost and revenue curves of a monopolist.The profit maximising price is P5.

Started by ssal

Since the monopolist is the sole producer of a good, it can never incur a loss.

Started by LaDunn

The profit-maximising level of output for a monopolist is the one at which marginal revenue equals ...

Started by dmcintosh

For a firm to be a natural monopoly, full economies of scale must be realised at a scale that is ...

Started by Beheh

The type of product sold is a key difference between a perfectly competitive industry and a ...

Started by tsand2

In which stage(s) of the product life cycle are price wars likely to break out?

Started by pane00

In which stage of the product life cycle is the firm likely to have a monopoly?

Started by DelorasTo

'Average cost pricing', is the term used to describe the situation when a firm

Started by lracut11

When a firm sets its prices below average cost in order to drive out competitors this is called

Started by sjones

Which of the following is NOT an advantage from practising price discrimination?

Started by kfurse