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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.
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What are the elements of business firm?
Some of the key elements of a business firm include customer segments and proper channeling. Other elements are cost structure and customer relationships.
What economists call the essential elements that a nation needs to achieve economic success?
land labor capital
What are the essential elements of the basic competitive model?
rational, self interested consumers rational, profit maximizing firms competitive markets with price taking behavior
What are the essential elements of market economies?
A market economy requires prices to be set by supply & demand, w/out gov't interference. It is run entirely by the market itself.
What is the best measure of measuring the standard of living?
Life involves many things, and a standard of living cannot be measured by one measurement. The most essential elements of a standard of living would be the quality of food, housing, education, and medical care. If I wanted to take a quick snap-shot of a standard of living, I would start with housing. Even that is not just one thing, however. It involves several important elements. You would want to assess the amount of space per person, the security or durability of the housing structure, the availability and reliability of both plumbing and electricity, as well as the comfort, appearance, and convenience of the housing in many other respects.
What are three essential elements of a value structure foundation?
Three essential elements of a value structure foundation are clarity on core values, alignment with organizational goals and objectives, and consistent communication and reinforcement of values throughout the organization.
What three elements do sugars and starches contain?
Sugars and starches contain carbon, hydrogen, and oxygen. These elements are essential for the structure and function of carbohydrates in living organisms.
The five basic elements of organizational structure?
the five elements of organizational structure?" the five elements of organizational structure?" the five elements of organizational structure?" the five elements of organizational structure?"
What elements are essential to life?
The four elements essential to life areoxygencarbonhydrogennitrogen
What are three main elements comprising the structure of organic molecules?
The three main elements comprising the structure of organic molecules are carbon, hydrogen, and oxygen. These elements form the backbone of organic compounds and are essential for the variety of functions and properties exhibited by organic molecules.
What are the elements of capital structure?
elements of capital structure
Is most essential ingredient in organic molecules is hydrogen?
No, the most essential elements in organic molecules are carbon, hydrogen, and oxygen. These elements form the backbone of organic compounds and are crucial for the structure and function of living organisms. While hydrogen is important and frequently present in organic molecules, it is not the only essential element.
Is structure an element?
Structure is not considered one of the traditional elements, like fire, water, earth, and air. However, in a broader sense, structure can be seen as an essential component in various contexts, such as architecture, chemistry, and organization.
How many elements are essential elements?
There are five elements that are essential to life. These elements are carbon, hydrogen, nitrogen, and phosphorous. Carbon is in every living thing.
What is meant by form when discussing poetry?
the elements of a poems structure
What makes an element essential for life?
An element is essential for life if it is required for normal growth, development, and functioning of living organisms. These essential elements typically play critical roles in important biological processes such as metabolism, enzyme function, and cell structure. Adequate levels of these elements are necessary for the health and survival of living organisms.
What proteins must always contain what elements?
These elememts are carbon, oxygen, hydrogen, phosphorus and nitrogen.
