Critics saw two problems in particular: first, the direct influence of a private company on public research, and second, the private exploitation of research funded with public money (cf. Washburn, 2005; Rudy and Coppin, 2007). The biotechnology cluster surrounding Harvard University and MIT in ...
In nearly all cases, moreover, the unifying force of competition is reflected at any given moment in a common price (that is, rate of interest) for similar transactions. Continuous fluctuations in the money market rates of interest result from changes in the pressure of available supplies of ...
In nearly all cases, moreover, the unifying force of competition is reflected at any given moment in a common price (that is, rate of interest) for similar transactions. Continuous fluctuations in the money market rates of interest result from changes in the pressure of available supplies of ...
Anoligopolyislikelytospendmoneyonadvertising,productdifferentiation,andotherformsofnonpricecompetition.Theseexpenditurescanshiftthedemandcurvetotheright.Asaresult,bothpriceandoutputmaybehigherunderoligopolythanunderperfectcompetition.Inthelongrun,aperfectlycompetitivefirmearnszeroeconomicprofit.Theoligopolist,however,canearn...
If any firm does a lot of advertisement while the other remained silent, then he will observe that his customers are going to that firm who is continuously promoting its product. Thus, in order to be in the race, each firm spends lots of money on advertisement activities. ...
The firms involved in the oligopoly all have similar, if not identical, products and services and each company's control over pricing could be anywhere from low to high. Generally, if one vendor has a significant reduction in price, others soon follow to maintain their share of the market. ...
Every year, over 1300 people die in car accidents due to snowy, slushy, or icy pavement, with another 117,000 injured. Snowy weather is also a huge waste oftime and money, costing roughly $500M a day, and 544 million vehicle-hours a year of delay. Road salt doesn’t eliminate this ...
forces other makers of office software, like Corel, to lose business, because consumers will not buy another application if one is already pre-installed. Critics point to the proposed 1995 merger between Microsoft and Inuit which ultimately failed. Inuit is the maker of the best-selling money ma...
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(5) After spending a lot of money on advertising his product, a seller may not like to raise its price to deprive himself of the fruits of his hard labour. Naturally, he would stick to the going price of the product. (6) If a stable price has been set through agreement or collusion...