What conditions need to be present for a firm to be operating under "perfect competition"? What are the necessary conditions for a monopoly position in the market to be established? What does it mean to have a
What makes a monopolistic competition different from a purely competitive firm? What is the difference between a fully competitive market and a discriminating monopoly? What makes a market monopolistically competitive? What defines a competitive market?
For many, freely choosing a lifestyle defines the American dream. But in the 21st century, these choices are increasingly constructed by corporations and designed not to promote well-being, happiness, and planetary health, but to increase corporate profits and power. As a result, the decisions ...
cross elasticity, andmonopoly.Antitrustlegislation is actually predicated onperfect competitionarguments. TheAustrian school of economicsbelieves ceteris paribus assumptions have been taken too far, transforming economics from a useful, logical social science into a series of...
A key part of the appeal is the district court judge's interpretation that NASCAR Cup Series racing is its own market and for those who want to participate in an elite stock-car series, this is their only avenue. NASCAR argues that too narrowly defines a market, that it needs to be mor...
Conglomerates are large media corporations that own many stations and other companies; therefore, they can create a monopoly and decrease the flow of information to the public. The media serves to entertain the public, watch for corruption, set the national agenda, and promote the public good. ...
Two key reforms resulted in a decentralization of the arbitrage mechanism: independence of the Tether Treasury from Bitfinex, and migration to the Ethereum blockchain. The Bitfinex cryptocurrency exchange has the same parent as the Tether Treasury. The Bitfinex exchange initially had a monopoly on Te...
Yet, singles do not have a monopoly on bequests. Indeed, as Fig. 1(a) shows using data on actual bequest outcomes in the Health and Retirement Study, bequests also arise often in married households following the death of the first-deceased spouse. In nearly one in three married households...
The DoJ suggests that Apple violated Section 2 of the Sherman Act, which says that it is illegal to acquire or maintain monopoly power "through improper means." To make this argument, the DoJ needs to prove that Apple is a monopoly power in a relevant market, and that Apple used anticomp...
What is the role of competition in a market economy? What is a monopolistic competition market? Give an example. Give the characteristics of a monopoly market. What market do you think comes closest to perfect competition? Why? What factorWhat market do you think comes closest to perfect compe...