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PACKAGING: The container and graphic design variable in the marketing mix, (sometimes included in the product). Changes in product distribution and government regulations in contents identification have made the packaging variable a very important component in the organizationŐs marketing strategy. Packaging completes the marketing process by giving the consumer vital information just prior to making the final buy decision.

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Lesson 20: Oligopoly | Unit 5: Evaluation Page: 23 of 24

Topic: Government Intervention? <=PAGE BACK | PAGE NEXT=>

  • A couple of important questions regarding Government Intervention:

    1. Do the bads of oligopoly outweigh the goods?
    2. If so, can government make it better?

  • A major obstacle to answering these questions is that the evidence is seldom clear-cut.
  • While concentration creates the opportunity for greater inefficiency, it's no guarantee.

  • Should government intervention be pursued, it generally comes in one of three ways:

    1. Antitrust Laws
    2. Price Regulation
    3. Public Ownership


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MARGINAL FACTOR COST

The change in total factor cost resulting from a change in the quantity of factor input employed by a firm. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.

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Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for door-to-door salesmen.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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