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What effects a ban on smoking inside the workplace has on demand and cost curve in a oligopoly firms?
A ban on smoking inside the workplace can lead to a decrease in demand for tobacco products, as fewer people smoke in environments that restrict it. In an oligopoly, where firms are interdependent, this shift may prompt firms to lower prices to attract remaining smokers or find alternative products to maintain market share. Additionally, the cost curve may shift if firms incur expenses related to compliance with the ban, such as implementing smoking cessation programs or enhancing workplace environments. Overall, the ban can lead to reduced profit margins for tobacco firms in the oligopoly.
What else can I help you with?
Which market structure is the demand curve of the market represented by the demand curve of the firm?
oligopoly
Which market structures has a kinked demand curve in economics?
oligopoly
What are the types of oligopoly?
Oligopoly is a market from where large numbers of buyers contact few sellers for the purpose of buying and selling things. The different types are a pure oligopoly, a differentiated oligopoly, a collusive oligopoly, and a non-collusive oligopoly.
How much control does an oligopoly have over price?
faces a demand curve that is inelastic throughout the range of market demand. faces a perfectly inelastic demand curve. is a price maker. is also able to dictate the quantity purchased
Effects of supply and demand?
supply and demand effects the market economy and commodity prices. with a increase in demand commodity price increases resulting in inflation in economy and viceversa, and with increase in supply by producers there is decrease in commodity price resulting in deflation in economy.
Which market structure is the demand curve of the market represented by the demand curve of the firm?
oligopoly
Which market structures has a kinked demand curve in economics?
oligopoly
What are the types of oligopoly?
Oligopoly is a market from where large numbers of buyers contact few sellers for the purpose of buying and selling things. The different types are a pure oligopoly, a differentiated oligopoly, a collusive oligopoly, and a non-collusive oligopoly.
What is the most in demand language in the workplace for translators or interpreters?
The most in-demand language in the workplace for translators or interpreters can vary depending on geographical location and industry demand. However, commonly sought-after languages include English, Mandarin Chinese, Spanish, French, German, Arabic, Japanese, and Russian. Ultimately, demand can fluctuate based on global trends, economic factors, and emerging markets.
What has the author Jolian P McHardy written?
Jolian P. McHardy has written: 'Non-linear demand and the price-cost margin approach to the estimation of the social costs of oligopoly'
How much control does an oligopoly have over price?
faces a demand curve that is inelastic throughout the range of market demand. faces a perfectly inelastic demand curve. is a price maker. is also able to dictate the quantity purchased
Effects of supply and demand?
supply and demand effects the market economy and commodity prices. with a increase in demand commodity price increases resulting in inflation in economy and viceversa, and with increase in supply by producers there is decrease in commodity price resulting in deflation in economy.
What role does alcohol play in society?
Alcohol abuse, or any type of drug abuse has a multitude of effects, all which are negative. It has a negative effect on family life and workplace security. The effect also has negative personal health effects. The only "positive" effect, and this is not meant to be humorous, is that increases demand for social workers and doctors. It also is a factor in public health costs.
What is the conventional model devised for studying the oligopoly market structure on the kinked demand curve explain the essential elements of this model?
The kinked demand curve model explains oligopoly pricing behavior by illustrating how firms react to competitors' price changes. In this model, the demand curve is kinked at the current market price: if a firm raises its price, it loses customers to competitors (indicating elastic demand); if it lowers its price, competitors will also lower theirs, leading to minimal gain in market share (indicating inelastic demand). This creates a price rigidity where firms are reluctant to change prices, resulting in stable prices despite changes in costs. The essential elements include the kinked demand curve, the asymmetric response of firms to price changes, and the resulting price stability in the market.
What is bilateral oligopoly?
Bilateral Oligopoly is a market structure in which a few sellers and a few buyers exist and both demand and supply sides have market power. There is no absolute equilibrium defined for such structure. the example is the intermediate goods market that is a few suppliers compete each other to sell and a few buyers compete to buy. collusion may happen on both sides.
What is the Price elasticity of demand in each of the four market structures - perfect competition monopoly monopolistic competition and oligopoly?
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
What is the Price elasticity of demand in each of the four market structures perfect competition monopoly monopolistic competition and oligopoly?
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
