what is monopoly, its characteristics, probable cause & equilibrium price and output in short n long run.
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FellowBuddy.com is an innovative platform that brings students together to share notes, exam papers, study guides, project reports and presentation for upcoming exams.
We connect Students who have an understanding of course material with Students who need help.
Benefits:-
# Students can catch up on notes they missed because of an absence.
# Underachievers can find peer developed notes that break down lecture and study material in a way that they can understand
# Students can earn better grades, save time and study effectively
Our Vision & Mission – Simplifying Students Life
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Students should be able to:
Carry out diagrammatic analysis of the market structure in both the short and long run
Understand the importance of advertising and differentiation for the model of monopolistic competition and be able to contrast this with other market structures.
Students should be able to explain and evaluate the efficiency of monopolistic competition
The selling environment in which a firm produces and sells its product is called a market structure.*
Defined by three characteristics:
The number of firms in the market
The ease of entry and exit of firms
The degree of product differentiation
This presentation is made for " Introduction to business" course. It is about Types of competitions in sales market or Market Structure which has 4 types ; Perfect, Monopolistic, Oligopoly, and Monopoly. It includes case study of " Wal-Mart " as well. ( but i'm not sure if it's accurate )
File Format : PPTX Power Point 2007 or Higher.
Miss Nannapat K. ( MUM )
Tim3flies
Monopoly - Profit-Maximization in Monopoly - EconomicsFaHaD .H. NooR
Monopoly Economics
A monopoly (from Greek μόνος mónos ["alone" or "single"] and πωλεῖν pōleîn ["to sell"]) exists when a specific person or enterprise is the only supplier of a particular commodity. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly which consists of a few sellers dominating a market).[2] Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit.[3] The verb monopolise or monopolize refers to the process by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge overly high prices.[4] Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry (or market).[4]
A monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service; a monopoly may also have monopsony control of a sector of a market. Likewise, a monopoly should be distinguished from a cartel (a form of oligopoly), in which several providers act together to coordinate services, prices or sale of goods. Monopolies, monopsonies and oligopolies are all situations in which one or a few entities have market power and therefore interact with their customers (monopoly or oligopoly), or suppliers (monopsony) in ways that distort the market.[citation needed]
Monopolies can be established by a government, form naturally, or form by integration.
In many jurisdictions, competition laws restrict monopolies. Holding a dominant position or a monopoly in a market is often not illegal in itself, however certain categories of behavior can be considered abusive and therefore incur legal sanctions when business is dominant. A government-granted monopoly or legal monopoly, by contrast, is sanctioned by the state, often to provide an incentive to invest in a risky venture or enrich a domestic interest group. Patents, copyrights, and trademarks are sometimes used as examples of government-granted monopolies. The government may also reserve the venture for itself, thus forming a government monopoly
Monopoly Market Structure Example of Wapda, PtclArslan Khalid
Presentation on monopoly market structure by taking the example of wapda and ptcl?
Why other firms cannot enter into it?
What are the problem faced by Monopoly Market?
This PPT includes Oligopoly Market. It is explained in detail.
This is for educational purpose only. If you own any of the content please let me know. We are not here to hurt anyone's emotion. Please try to co-operate and use this for educational purposes only.
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# Underachievers can find peer developed notes that break down lecture and study material in a way that they can understand
# Students can earn better grades, save time and study effectively
Our Vision & Mission – Simplifying Students Life
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Sustainability: Balancing the Environment, Equity & Economy
Monopoly Market Structure
1.
2. Imperfect Competition An imperfectly competitive industry is an industry in which single firms have some control over the price of their output. Some examples are Monopoly, Oligopoly and Monopolistic competition. Monopoly:- A market structure in which only one producer or seller exists for a product that has no close substitutes 12/9/2009 2 continued...
9. MONOPOLY Monopolies exist because of barriers to entry into a market that prevent competition. ex:-railways, electricity. There are three general classes of barriers to entry(CAUSE): Natural barriers, the most common being economies of scale Actions by firms to keep other firms out Government (legal) barriers 12/9/2009 4 continued...
10. Economies of Scale In some industries, the larger the scale of production, the lower the costs of production. Entrants are not usually able to enter the market assured of or capable of a very large volume of production and sales. This gives incumbent firms a significant advantage. Examples are electric power companies and other similar utility providers. 12/9/2009 5 continued...
11. Government Governments often provide barriers, creating monopolies. As incentives to innovation, governments often grant patents, providing firms with legal monopolies on their products or the use of their inventions or discoveries for a period of 17 years. 12/9/2009 6 continued...
12. Types of Monopolies Natural monopoly: A monopoly that arises from economies of scale. The economies of scale arise from natural supply and demand conditions, and not from government actions. Local monopoly: a monopoly that exists in a limited geographic area. Bilateral Monopoly: only one buyer, very rare ex; expensive defence goods-govt.is single buyer. Regulated monopoly: a monopoly firm whose behavior is overseen by a government entity. Monopolization: an attempt by a firm to dominate a market or become a monopoly. 12/9/2009 7 continued...
18. Monopoly: Equilibrium Firm = Market Short run equilibrium diagram = long run equilibrium diagram (apart from shape of cost curves) At qm: pm > AC therefore you have excess (abnormal, supernormal) profits Short run losses are also possible 12/9/2009 13 continued...
19. Monopoly: Equilibrium MC The shaded area is the excess profit P AC Pm ym y Demand MR 12/9/2009 14 continued...
20. EQUILIBRIUM PRICE AND OUTPUT UNDER MONOPOLY IN SHORT RUN PROFIT-MAXIMIZING CASE: A firm in the short run earns maximum profit when it meets the following conditions; MR = MC and MC curve cuts MR from below Average Revenue is greater than Average Total Cost. 12/9/2009 15 continued...
21.
22. EQUILIBRIUM PRICE AND OUTPUT UNDER MONOPOLY IN SHORT RUN NORMAL PROFIT CASE: A firm in the short run earns normal profit when it meets the following conditions; MR = MC and MC curve cuts MR from below Average Revenue is equal to Average Total Cost. 12/9/2009 17 continued...
23.
24. EQUILIBRIUM PRICE AND OUTPUT UNDER MONOPOLY IN SHORT RUN LOSS-MINIMIZING CASE: A firm in the short run minimize loss in following way; MR = MC and MC curve cuts MR from below Average Revenue is less than Average Total Cost but greater than AVC. 12/9/2009 19 continued...
25.
26. EQUILIBRIUM PRICE AND OUTPUT UNDER MONOPOLY IN LONG RUN A monopoly firm will be in equilibrium in long run and will earn Economic profit if; MC = MR and MC cuts MR curve from below AR is greater than Average Cost and There is no threat of new entry into the market If there is threat of new entry so monopolist will reduce prices and will earn only normal profit. 12/9/2009 21 continued...
27. EQUILIBRIUM PRICE AND OUTPUT UNDER MONOPOLY IN LONG RUN MC Revenue/ Cost ATC P Profit AVC E AR MR 0 Output 12/9/2009 22 continued...
28. thank-you……. have a nice day. 12/9/2009 23 continued...