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LINE GRAPH: A graph containing one or more lines or curves that are used to represent relations between two (or more) variables. A line graph is a useful method of illustrating scientific principles and hypotheses important for the economic analysis.

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Lesson 20: Oligopoly | Unit 3: Behavior Page: 13 of 24

Topic: Merger <=PAGE BACK | PAGE NEXT=>

  • More on merger.

  • A merger is the consolidation of two separately-owned businesses under single ownership.
  • A merger among firms in the same industry formalizes cooperation well beyond that of an explicit cartel.

  • A merger is the ULTIMATE in cooperation.

  • Mergers are common practice among oligopoly firms and don't generally violate antitrust laws.

  • To see why, consider the three standard types of mergers.

    • Horizontal merger
    • Vertical merger
    • Conglomerate merger


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ELASTICITY

The relative response of one variable to changes in another variable. Elasticity is commonly used in the study of market exchanges to identify the relative response of quantity (demanded and supplied) to changes in price. The phrase "relative response" is best interpreted as the percentage change, such as, the percentage change in quantity measured against the percentage change in price. The most common notions of elasticity are the price elasticity of demand and the price elasticity of supply. Other notable economic elasticities are the income elasticity of demand and the cross elasticity of demand.

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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a rechargeable flashlight or storage boxes for your computer software CDs. Be on the lookout for telephone calls from long-lost relatives.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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Vector Autoregression
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