Dynamic Efficiency and Hotelling's Rulemaggiewinslow
These slides cover present value calculations and then dynamic efficiency for non-renewable resource extraction. This is illustrated using a two-period model with examples using both graphs and Excel spreadsheets.
Income elasticity of demand is the degree of responsiveness of quantity demanded of a commodity due to change in consumer’s income, other things remaining constant. In other words, it measures by how much the quantity demanded changes with respect ot the change in income.
Dynamic Efficiency and Hotelling's Rulemaggiewinslow
These slides cover present value calculations and then dynamic efficiency for non-renewable resource extraction. This is illustrated using a two-period model with examples using both graphs and Excel spreadsheets.
Income elasticity of demand is the degree of responsiveness of quantity demanded of a commodity due to change in consumer’s income, other things remaining constant. In other words, it measures by how much the quantity demanded changes with respect ot the change in income.
The cross-price elasticity of demand is the degree of responsiveness of quantity demanded of a commodity due to the change in price of another commodity.
Students should be able to:
Illustrate and perform simple calculations using total revenue, average revenue and marginal revenue.
Draw and interpret revenue curves
Understand the relationships between total revenue, price elasticity of demand and marginal revenue
The cross-price elasticity of demand is the degree of responsiveness of quantity demanded of a commodity due to the change in price of another commodity.
Students should be able to:
Illustrate and perform simple calculations using total revenue, average revenue and marginal revenue.
Draw and interpret revenue curves
Understand the relationships between total revenue, price elasticity of demand and marginal revenue
Reliable market sizing doesn't have to be as complicated or painstakingly slow as you think. This presentation offers a quick overview of the art and science of market sizing, and offers a step-by-step guide on how to conduct seven fast market sizing approaches.
Developing a marketing plan for the first timer can be daunting, here we present a user friendly guidebook on the key steps, inputs and take the reader through the development of a marketing plan from start to finish
Students should be able to:
Understand the assumptions of perfect competition and be able to explain the behaviour of firms in this market structure.
Understand the significance of firms as price-takers in perfectly competitive markets. An understanding of the meaning of shut-down point is required. The impact of entry into and exit from the industry should be considered.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
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how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
1. CONCEPTS AND
TYPES OF MARKETS
Professor & Lawyer. Puttu Guru PrasadProfessor & Lawyer. Puttu Guru Prasad
(ICFAI Trained & Certified Management Faculty)
M.Com-----------------------------M.Com----------------------------- (Madras University)(Madras University)
M.B.A ------------(Dr. Ambedkar University, First Class)M.B.A ------------(Dr. Ambedkar University, First Class)
TOEFL-------------------TOEFL------------------- (Top Scorer, Qualified for I-20)(Top Scorer, Qualified for I-20)
GMAT----------------GMAT---------------- (Qualified for I-20 US Study Visa)(Qualified for I-20 US Study Visa)
L.L .B -------L.L .B -------(Gold Medalist, Acharya Nagarjuna University)(Gold Medalist, Acharya Nagarjuna University)
PGDM -----------------------PGDM -----------------------(Foreign Trade Management)(Foreign Trade Management)
M.Phil------M.Phil------ (Annamalai University, Distinction Holder)(Annamalai University, Distinction Holder)
F.T.P -----F.T.P -----(ICFAI, 30(ICFAI, 30thth
Batch Topper and Domain Topper)Batch Topper and Domain Topper)
APSET-----------------------APSET----------------------- (Qualified with 68% marks)(Qualified with 68% marks)
P.h.DP.h.D --------------------------------(Pursuing from JNJTUK, Kakinada)(Pursuing from JNJTUK, Kakinada)
2. MARKET
• Market is defined as a place or point at which
buyers and sellers negotiate for exchange of
well-defined products or services.
• Traditionally, market was referred to a public
place in a village or town where provisions and
other objects were brought for sale.
• Based on location, markets are classified as
rural, urban, national or world markets.
• Market is said to exist wherever there is a
potential for trade
August 9, 2017 2
3. • Today with improving technology and modern
facilities, the definition of market has undergone a
sea change
• In the modern context, market refers to a meeting
point of buyer and seller, but not necessary a
geographical one.
• It is not necessary that the buyer must meet the
seller in person.
• While traditional avenues such as Value payable by
Post (VPP) continue to be popular, e-commerce
through internet has been the latest avenue for
firms to sell larger volumes of their products and
services via online negotiations where necessary.August 9, 2017 3
4. SIZE OF MARKET
• The size of the market depends on
many factors such as nature of
products, nature of their demand,
tastes and preferences of customers,
their income level, state of technology,
extent of infrastructure, including
telecommunications and information
technology, time factor in terms of
short run or long run and so onAugust 9, 2017 4
5. MARKET CONDUCT
• Market conduct refers to the behavioral aspects
of sellers and buyers operating in a market.
Market conduct consists of:
• A) the business objectives of the firms such as
profit maximization and sales maximization or
market share.
• B) customizing the products as per the specific
requirements of buyers such as assembling of a
personal computer as per the specifications of
the buyer and making it cost effective.
• C) improving the quality of the product and
making it available at a lower price
August 9, 2017 5
6. • D) marketing strategies and tactics adopted by
the firms to establish competitive edge over
rival firms.
• These include various pricing strategies such as
deliberately charging a low price in order to
penetrate into the market and expand sales
quickly, pricing the product deliberately as a
higher level in order to make as much profits as
possible in the quickest possible time.
• Change in advertising and sales promotion
strategies, variations in the quality and make of
the products, innovative packaging techniques
and design etc.,August 9, 2017 6
7. MARKET PERFORMANCE
• When the suppliers/sellers utilize the economic
resource/inputs to their maximum efficiency and to the
ultimate benefit of consumers, the market is said to be
effective in its performance.
• The following are the essentials of market performance:
• A)Efficiency in production:
• When the process of production of goods and services
is cost effective, efficiency is said to prevail in
production processes.
• The firm should make efforts to minimize the costs
while maximizing the output. Scale economics should
be fully exploited.August 9, 2017 7
8. • B) Efficiency in distribution:
• Distribution is the process of storing and
moving the products to consumers often though
intermediaries such as wholesalers and retailers.
• Channel of distribution is the route followed for
physical distribution of a product form the
manufacturer to the ultimate consumer.
• The channel of distribution should be effectively
manag3ed to bring down the distribution costs
to the minimum and to make the product
available to the ultimate customer without any
sort of inconvenience.August 9, 2017 8
9. • C) Fixation of Prices:
• The price should be fixed at reasonable level leaving
reasonable profit/return to the suppliers/sellers.
• D) Product performance:
• The customers always look for variety,
sophistication in design and quality at reasonable
price. The firm should provide value-for-money.
• E) Improved technology:
• Innovations in technology bring down the costs of
product and process manufacturing and inprove the
features of the product.
• The growing demands of the customers can be met
better though introduction of process and product
innovations. These also reduce the supply costs in
real terms.
August 9, 2017 9
10. MARKET STRUCTURE
• Market structure refers to the
characteristics of a market that influence
the behavior and performance of firms that
sell in that market.
• The structure of market is based on the
following features:
• 1.The degree of seller concentration:
• This refers to the number of sellers and
their market share for given product or
service in the marketAugust 9, 2017 10
11. • 2.The degree of buyer concentration:
• This refers to the number of buyers and their extent
of purchase of a given product or service in the
market.
• 3.The degree of product differentiation:
• A firm may differentiate its product form that of
the competitor though advertising, creating a brand
image, product design, variation in quality,
packagining location and so on.
• This refers to the extent by which the product of
each trader is differenciated from that of the other.
• Product differentiation can take several forms such
as varieties, brands, all of which are sufficiently
similar to distinguish them, as a group, from other
product
August 9, 2017 11
12. • 4. The conditions of entry to the market:
• Often, there could be certain
restrictions to enter or exit from the
market. The degree of ease with which
one can enter the market or exit from it
also determines the market structure.
• In other words there could be large
number of firms if there aren’t many
restrictions on entering the market and
vice versa
August 9, 2017 12
13. COMPETITIVE MARKET
SITUATIONS
• The lesser the power an individual
firm has to influence the market in
which it operates, the more
competitive the market is. If a firm
can influence the market by offering
products and services at better or
attractive terms and conditions, it is
said to have grater power to influence
the market.
August 9, 2017 13
14. TYPES OF COMPETITION
• The interconnected characteristics of a market, such as
the number and relative strength of buyers and sellers
and degree of collusion among them, level and forms of
competition, extent of product differentiation, and ease
of entry into and exit from the market
• Four basic types of market structure are (1)
Perfect competition: many buyers and sellers, none
being able to influence prices. (2) Oligopoly: several
large sellers who have some control over the prices. (3)
Monopoly: single seller with considerable control over
supply and prices. (4) Monopsony: single buyer with
considerable control over demand and prices.
August 9, 2017 14
15. PERFECT COMPETITION
• The theoretical free-market situation in which the
following conditions are met: (1) buyers and sellers
are too numerous and too small to have any degree
of individual control over prices, (2) all buyers and
sellers seek to maximize their profit (income), (3)
buyers and seller can freely enter or leave the market,
(4) all buyers and sellers have access toinformation
regarding availability, prices, and quality of goods
being traded, and (5) all goods of a particular nature
are homogeneous, hence substitutable for one
another. Also called perfect market or
pure competition.
August 9, 2017 15
16. Features of perfect competition
• 1. Large number of buyer and sellers:
• Each buyer buys a small quantity of the total
amount.
• Each seller is so large that no single buyer or
seller can influence the price and affect the
market.
• Buyers and sellers are price takers in the purely
competitive market.
• Each seller (or firm) sells its products at the price
determined by the market.
• Similarly, each buyer buys the commodity at the
price determined by the market.August 9, 2017 16
17. • 2.Free entry and exit:
• Under perfect competition, there will be
no restriction on the entry and exit of both
buyers and sellers. If the existing sellers
start making abnormal profits, new sellers
should be able to enter the market freely.
This will bring down the abnormal profits
to the normal level. Similarly, when losses
will occur existing sellers may leave the
market. However, such free entry or free
exit is possible only in the long run, but not
August 9, 2017 17
18. • 3.Perfect knowledge:
• Perfect competition implies perfect
knowledge on the part of buyers and
sellers regarding the market
conditions. As a results, no buyer will
be prepared to pay a price higher than
the prevailing price. Sellers will not
charge a price higher or lower than
the prevailing price. In this market,
advertisement has no scope.August 9, 2017 18
19. • 4.Perfect mobility of factors of
production:
• The second perfection mobility of
factors of production from one use to
another use. This feature ensures that
all sellers or firms get equal
advantages so far as services of factors
of production are concerned. This is
essential to enable the firms and
industry to achieve equilibrium.August 9, 2017 19
20. • 5. Homogenous Product
• In this case, all sellers produce
homogeneous i.e. perfectly
identical products. All products are
perfectly same in terms of size,
shape, taste, colour, ingredients,
quality, trade marks etc. This
ensures the existence of single
price in the market.August 9, 2017 20
21. • 6. Each firm is a price taker:
• A firm in a perfect market cannot
influence the price though its
own individual actions.
• It has no alternative other than
selling its products at the price
prevailing in the market
August 9, 2017 21
22. Total Revenue(TR),
Average Revenue(AR) and
Marginal Revenue(MR)
• Total revenue ( TR ) is the total amount
of money(or some other good) that a
firm receives from the sale of its
goods. It the firm practices single
pricing rather than price
discrimination, TR = total expenditure
of the consumer = P x Q
August 9, 2017 22
23. Total Revenue, Average Revenue
and Marginal Revenue
• Average revenue ( AR ) is the total
amount of money(or some other good)
that a firm receives from the sale
divided by the number of units of
goods sold.
• AR = TR/Q, since TR=P x Q, then AR =
P for single pricing practice
August 9, 2017 23
24. Total Revenue, Average Revenue
and Marginal Revenue
• Marginal revenue ( MR ) is the
change in total revenue resulting
from selling an extra unit of goods.
• MR = ∆TR/∆Q, where ∆TR =
change in TR due to change in Q,
∆Q = change in Q
August 9, 2017 24
25. • Imagine that one more book is sold. Since the selling is
done at a given market price of rs.10 the additional
revenue (MR) by selling one more unit will be rs.10
• Consider this example. Your are selling notebooks. Each
books cost rs.10 your are not going to given any discount
or concession even if a buyer purchases more number of
books at a time. Suppose 10m books are sold.
• The total (TR) revenue is rs.100. the average revenue (AR) is
rs.10 (100/10).
• Suppose you are selling one more notebook. Since you are
selling at the given market price of rs.10, the additional
revenue (MR) by selling one more unit will be rs.10
• Thus, under perfect competition Price =Average Revenue
(AR) = Marginal Revenue (MR)
August 9, 2017 25
26. IMPERFECT COMPETITION
• Real world' competition that is less effective in
lowering price levels nearer to the cost levels than
the theoretical perfect competition. Conditions
that help cause imperfect competition include (1)
restricted flow of information on costs and prices,
(2) near monopoly power of some suppliers, (3)
collusion among sellers to keep prices high, and
(4) discrimination by sellers among buyers on the
basis of their buying power.
August 9, 2017 26
27. MONOPOLY
• Market situation where one producer (or
a group of producers acting in concert)
controls supply of a good or service, and
where the entry of new producers is
prevented or highly restricted.
Monopolist firms (in their attempt to
maximize profits) keep the price high and
restrict the output, and show little or no
responsiveness to the needs of their
August 9, 2017 27
28. • Most governments therefore try to control
monopolies by (1) imposing price controls, (2) taking
over their ownership (called 'nationalization'), or (3)
by breaking them up into two or more competing
firms. Sometimes governments facilitate the
creation of monopolies for reasons of national
security, to realize economies of scale for competing
internationally, or where two or more producers
would be wasteful or pointless (as in the case of
utilities). Although monopolies exist in varying
degrees (due to copyrights, patents, access to
materials, exclusive technologies, or
unfair trade practices) almost no firm has a
complete monopoly in the era of globalizationAugust 9, 2017 28
29. MONOPOLY COMPETITION
• Market situation midway between the extremes of
perfect competition and monopoly, and displaying
features of the both. In such situations firms are free to
enter a highly competitive market where several
competitors offer products that are close (but not
perfect) substitutes and, therefore, prices are at the
level of average costs (a feature of perfect competition).
• Also, some consumers have a preference for one
product over another that is strong enough to make
them keep buying it even when its price increases, thus
giving its producer a small amount of market power (a
feature of monopoly). Monopolistic situation is a
common situation in all free marketsAugust 9, 2017 29
30. DUOPOLY
• Market situation in which only
sellers supply a particular
commodity to many buyers. Either
seller can exert some control over
the output and prices, but must
consider the reaction of its sole
competitor (unless both have
formed an illegal collusive duopoly).
August 9, 2017 30
31. Example
• A soft drink market with two
companies such as Pepsi and Coke is
called duopoly.
• Basic facilities for satellite
communication are presently
provided by the Mahanagar
Tlelphoine Nigam Limited (MTNL)
and Videsh Sanchar Nigam Limited
(VSNL)August 9, 2017 31
32. OLIGOPOLY
• Market situation between, and much more common
than, perfect competition (having many suppliers)
and monopoly (having only one supplier). In
oligopolistic markets, independent suppliers (few in
numbers and not necessarily acting in collusion) can
effectively control the supply, and thus the price,
thereby creating a seller's market.
• They offer largely similar products, differentiated
mainly by heavy advertising and promotional
expenditure, and can anticipate the effect of one
another's marketing strategies. Examples include
airline, automotive, banking, and petroleum
markets. Mirror image of oligopsony.
August 9, 2017 32
33. Example
• Car manufacturing companies (such as Maruti-
Suzuki, Hindustan Motors, Daewoo, Toyota etc.,)
and Newspapers (such as The Hindu, Indian Express,
Times of India, Economic Times, Eenadu, etc,)
• In oligopoly, each individual seller or firm can affect
the market price. When The Times of India slashed
the price of ots daily newspaper, most other
companies such as Indian Express and The Hindu
followed suit.
• Oligopolistic market situations are very common in
sectors relating to manufacturing, transportation,
communication and so on.
August 9, 2017 33
34. MONOPSONY
• A term used to describe a market
where a very large buyer typically
dominates the price action. In a
monopsony, the large buyer is
typically able to force prices to
decline and this type of market
contrasts with a monopoly where a
large seller is able to drive up
August 9, 2017 34
35. Example
•The Food Corporation of
India is the only
government organization
that purchase agricultural
produce such as rice and
so on.August 9, 2017 35
36. DUOPSONY
• Market situation in which only
two buyers create the entire
demand for a commodity
supplied by many sellers a
mirror image of duopoly.
August 9, 2017 36
37. OLIGOPSONY
• Market situation where
presence of few buyers and
many suppliers creates a
buyer's market. Mirror image
of oligopoly.
August 9, 2017 37
38. Example
• A few news paper publishing
companies in India and all these buy
newsprint from the Government of
India.
• A good number of computer
assembly operators who buy
computer components on a
wholesale basis.
August 9, 2017 38