|
|
HOTELLING'S PARADOX: A principle stating that monopolistically competitive firms seek to maintain similarities between products at the same time they maintain differences. Similarities enable substitutability. That is, one firm can attract the buyers away from other firms. Differences enable uniqueness and market control. That is, a firm has a small monopoly for its product that allows it to charge a higher price than achieved with perfect competition. This is also termed the principle of minimum differences.
Visit the GLOSS*arama
|
|

|
|
|
RESOURCES Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Resources are often given the more descriptive term factors of production.
Complete Entry | Visit the WEB*pedia |


|
|
WHITE GULLIBON [What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for broken fingernail clippers. Your Complete Scope
This isn't me! What am I?
|
|
|
Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
|
|
|
"The greatest use of life is to spend it for something that will outlast it." -- William James, psychologist
|
|
IER International Economic Review
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|