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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
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Page: 23 of 24
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Topic:
Government Intervention?
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- A couple of important questions regarding Government Intervention:
- Do the bads of oligopoly outweigh the goods?
- 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:
- Antitrust Laws
- Price Regulation
- 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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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Learn to enjoy every minute of your life. Be happy now. Don't wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it's at work or with your family. Every minuteshould be enjoyed and savored." -- Earl Nightingale
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NI
National Income, Net Income
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