Explain five features of oligopoly.
Features of oligopoly include:
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State four basic features of a market.
Basic features of a market include:
Explain five circumstances in which a firm may acquire monopoly power
Circumstances in which a firm may acquire monopoly power include:
State four features of a perfectly competitive market.
Features of a perfectly competitive market include:
Features of monopolistic competition
Features of monopolistic competition include:
The diagram below represents the long-run equilibrium of a firm under monopolistic competition.Name the curves represented by the letters a, b, c, and d.
Name the curves represented by the letters a, b, c, and d.
(i) a is (ii) b is (iii) c is (iv) d is
The curves represented are:
Highlight four circumstances under which business enterprises may choose to merge
Circumstances under which business enterprises may choose to merge:
Country X has been experiencing an upward trend in the price of petrol as a result of a rise in inflation. State four steps that can be taken to minimize expenditure on this product.
Steps that can be taken to minimize expenditure on petrol include:
Draw a diagram to show how equilibrium price and output are determined under- monopoly. (10mks)12/12/2020 Draw a diagram to show how equilibrium price and output are determined under- monopoly.
Determine determination of equilibrium price and output under monopoly.
The following diagram represents equilibrium position of a firm under perfect competition.11/12/2020 The following diagram represents equilibrium position of a firm under perfect competition.
Label the parts represented by the letters a,b,c, and d
Explain five methods of determining the price of a product other than price control. (10 marks)11/12/2020 Methods of determining the price of a product other than price control
Five methods of determining the price of a product other than price control:
Characteristics of a monopolistic competitive market
Characteristics of a monopolistic competitive market.
Assumptions that are associated with perfect competitor.Characteristics of a monopolistic competitive market
The following information relates to Movaic Retailers for the month of July 2015:Calculate: (I) Mark-up ii) Margin (iii Total expenses (iv) Net profit (y) Rate of stock turnover Answer |
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