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March 25, 2023 

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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.

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OLIGOPSONY: A market structure dominated by a small number of large buyers controlling the buying-side of a market. Oligopsony is the somewhat obscure and seldom discussed buying counterpart to an oligopoly seller that controls the selling side of a market. Whereas oligopoly is most relevant to product markets, oligopsony is most relevant to factor markets.

     See also | oligopoly | monopsony | monopsonistic competition | bilateral monopoly | factor markets | market control |


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OLIGOPSONY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: March 25, 2023].


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LAW OF INCREASING OPPORTUNITY COST

The proposition that opportunity cost, the value of foregone production, increases as the quantity of a good produced increases. This fundamental economic principles can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve. It generates a distinctive convex shape, flat at the top and steep at the bottom.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for telephone calls from former employers.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"Success is the ability to go from one failure to another with no loss of enthusiasm."

-- Sir Winston Churchill

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