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In competing with rivals oligopolistic firms will tend to use?
no
What is the difference between professional workers and ordinary workers?
Education and skill are the main differences between professional workers and ordinary workers. Professional workers tend to have more education and tend to perform mental instead of physical work. Ordinary workers tend to have less education and work in manual jobs.
When workers are aligned they tend to?
be productive
Which of these statements is true based on the information on the tableOlder workers tend to stay at their jobs for longer periods of time than younger workers do?
Older workers tend to stay at their jobs for longer periods of time than younger workers do.
Why Japanese Firms tend to be so competitive?
Japanese firms are competitive because they want to make a profit. They typically do this by expanding outside of Japan.
Does this Acer model tend to overheat?
No, this Acer model does not tend to overheat unless you leave it on for long periods of time such as a week.
How many kilometers a Porsche cayenne drive per liter?
The fuel efficiency of a Porsche Cayenne can vary depending on the model and engine type, but generally, it averages around 8 to 12 kilometers per liter. Hybrid models may offer better efficiency, while performance-oriented variants tend to consume more fuel. Always refer to the specific model's specifications for precise figures.
What population groups tend to get brucellosis?
In the United States, the disease is primarily confined to slaughterhouse workers.
Why are collusions and cartels unstable in the long run?
When cartels are created, usually in oligopolistic industries, few firms make agreements on things such as production and prices. This ensures that the few firms in the cartel have economic profit and will eventually drive off weaker firms. This usually results in monopolistic behaviors for the remaining firms and eventually the prices catch up to the consumer. Cartels tend to arise in markets where there are few firms and each firm has a signeficant share in the market.
How oligopoly affect the efficiency of resources allocation compared to a competition market?
Oligopolies and competitive markets allocate resources differently, affecting economic efficiency in several ways. Here’s a detailed comparison: Resource Allocation in Competitive Markets Price Mechanism: In a perfectly competitive market, prices are determined by supply and demand. Firms are price takers and must accept the market price. Efficiency: Allocative Efficiency: Resources are allocated where they are most valued by consumers, as prices reflect the marginal cost of production. Productive Efficiency: Firms produce at the lowest point on their average cost curve due to competitive pressures. Consumer Welfare: Consumers benefit from lower prices and a wide variety of goods and services due to intense competition. Resource Allocation in Oligopolies Price Setting: In an oligopoly, a few large firms dominate the market. These firms have significant control over prices and can influence market conditions. Efficiency: Allocative Efficiency: Often compromised because firms have the power to set prices above marginal cost, leading to higher prices and reduced output compared to a competitive market. Productive Efficiency: May be less efficient than in competitive markets due to less pressure to minimize costs. However, large firms may benefit from economies of scale, which can improve productive efficiency. Consumer Welfare: Typically lower compared to competitive markets because higher prices and limited choices reduce consumer surplus. Key Differences Market Power: In competitive markets, firms have little to no market power, leading to optimal pricing and output decisions. In oligopolies, firms have significant market power, which can lead to higher prices and reduced output. Barriers to Entry: Competitive markets have low barriers to entry, encouraging new firms to enter and drive innovation and efficiency. Oligopolies often have high barriers to entry, reducing competition and potentially leading to inefficiencies. Innovation: Competitive markets drive innovation as firms constantly strive to outperform their rivals. Oligopolies might have more resources for R&D, potentially leading to significant innovations. However, the lack of competitive pressure can sometimes lead to complacency. Theoretical Perspectives Cournot Model: Assumes firms compete on quantity. Oligopolies produce more than a monopoly but less than a competitive market, leading to higher prices than in perfect competition. Bertrand Model: Assumes firms compete on price. If firms set prices, it can lead to a situation akin to perfect competition with low prices, but this depends on the assumption of identical products and no capacity constraints. Kinked Demand Curve: Suggests that firms in oligopolies are hesitant to change prices due to potential competitive reactions, leading to price rigidity. Empirical Evidence Studies have shown that oligopolistic markets often exhibit higher prices and lower output than competitive markets, supporting the theoretical predictions of reduced allocative efficiency. For example, the airline industry, characterized by a few dominant carriers, often shows higher prices on routes with less competition. Conclusion Overall, oligopolies tend to be less efficient in resource allocation compared to competitive markets. They can lead to higher prices, reduced output, and potentially lower levels of innovation and consumer welfare. However, the potential for economies of scale and significant R&D investments in oligopolies can sometimes offset these inefficiencies to some extent. For a more in-depth analysis, references from economic textbooks and empirical studies such as those found in journals like the Journal of Economic Perspectives or The Quarterly Journal of Economics can provide further insights.
What goes through cycles according to theory of iron law of wages?
According to the theory of the iron law of wages, wages tend to fluctuate in cycles based on supply and demand. When there is a surplus of labor, wages tend to decrease, as employers have more options and can pay workers less. Conversely, when there is a shortage of labor, wages tend to increase as employers need to compete for workers.
What values tend to be strong in Hispanic cultures contribute to popular stereo types about hispanic workers?
Values such as hard work, family orientation, and perseverance tend to be strong in Hispanic cultures. These values may contribute to stereotypes about Hispanic workers being diligent, loyal, and dedicated to providing for their families.
