Google
Tuesday 
June 6, 2023 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
JOB LEAVERS: Unemployed workers who have voluntarily quit their current jobs and have immediate sought other employment. This is one of the official categories or unemployed workers tracted by the Bureau of Labor Statistics when compiling employment statistics and the unemployment rate. It is also a key to the theoretical notion of frictional unemployment.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 20: Oligopoly | Unit 4: Analysis Page: 20 of 24

Topic: Unit Review <=PAGE BACK | PAGE NEXT=>

In this unit, you should have learned about:
  • How the kinked-demand curve, derived for an oligopoly operating in an interdependent market, has a more elastic segment for price increases, and a less elastic segment for price decreases.
  • The kinked-demand curve analysis, which illustrates how oligopoly prices tend to be relatively rigid because competing firms DON'T match higher prices but DO match lower prices.
  • How colluding firms maximizing industry profit by equating industry marginal revenue to industry marginal cost.
  • How the output of colluding firm is divided based on the marginal cost of production by each firm.
  • Using game theory to illustrate the interdependent decision making among oligopoly firms, such as the decision to advertise.


Course Home | Lesson Menu | Page Back | Page Next

FACTOR DEMAND ELASTICITY

The elasticity of a factor demand curve is affected by four items: (1) the price elasticity of demand for the good produced, (2) the production function technology and elasticity of marginal physical product, (3) the ease of factor substitutability, and (4) the share of the factor's cost relative to total cost. Changes in any of these four items cause the price elasticity of factor demand to change. In other words, the quantity of factor services demanded becomes more or less sensitive to changes in the factor price.

Complete Entry | Visit the WEB*pedia


APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for small children selling products door-to-door.
Your Complete Scope

This isn't me! What am I?

A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. "

-- Michael Jordan, basketball player

FX
Foreign Exchange
A PEDestrian's Guide
Xtra Credit
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



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2023 AmosWEB*LLC
Send comments or questions to: WebMaster