Oligopoly Versus Monopoly Competition Essay - 1475 Words

i. Module Code : FC006 ii. Group : D iii. Module Title : Economics in an International Context iv. Assessment Title : Essay v. Assignment Title : Differences between oligopoly and monopolistic competition market structures. vi. Tutor name : Hind Francesca vii. Student ID : 200893206 viii. Date of submission : 15/3/2012 ix. Word Count : 986 Differences Between Oligopoly and Monopolistic Competition Market Structures Market structure refers to the interconnected characteristics of a market, which include the number of firms, level and forms of competition and extent of product differentiation (Business Dictionary, 2012). Based on these parameters, several market structures are defined and this essay†¦show more content†¦In short run, the firms can set the price high to obtain supernormal profit (represented by shaded region in Figure 2A). As the abnormal profit they make in short run attracts many potential rivals, the firms must then set the price low to stay competitive in long run (Figure 2B). For example, in Canada, the price of personal computers was very expensive when they were first introduced into the market, but as the number of computer manufacturers increased, the price of personal computers has been declining over the past decade (Figure 3; Statistics Canada, 2011). B B A A Cost Cost Price Price Figure 2. (A) Profit maximisation in short run in monopolistic competition. (B) Normal profit making in long run in monopolistic competition (Bized, 2001). Figure 3. Change of computer price by different purchasers. (Statistics Canada, 2011). Mode of competition is also different between the firms in oligopoly and monopolistic competition. Oligopoly is characterized by imperfect competition, mainly due to high barriers for entry to market (Economics Online, 2012). This is due to various reasons including exclusive resources ownership, extensive relevant knowledge, patent and copyright, other government restrictions, managerial challenge and high start-up cost (Economics Online, 2012; Amos Web, 2012). Airline industry is a typicalShow MoreRelatedThe Market Structures Of A Market Structure962 Words   |  4 PagesTherefore, a comparison and contrast is necessary to distinguish each of these theories from one another. These market structures of the economy are perfect competition, monopoly, monopolistic competition, and oligopoly. These market structures will reveal the difference and similarities that each one has. Firstly, the perfection competition is a market structure that has four assumptions that define what it is to be in this market. The four assumptions include the following it has many sellersRead MoreOligopoly: Monopoly and Firms1535 Words   |  7 Pagesï » ¿+ http://www.expertsmind.com/course-help/?p=oligopoly-emergence-causes-98734287402 Oligopoly Meaning:- Oligopoly  is a common economic system in today’s society. The word â€Å"oligopoly† comes from the Greek â€Å"oligos† meaning little or small† and â€Å"polein† meaning â€Å"to sell.† When â€Å"oligos† is used in the plural, it means â€Å"few.† Oligopoly is a market structure in which there are a few sellers and they sell almost identical products. A situation in which a particular marketRead MoreA Monopoly Is A Single Seller951 Words   |  4 PagesA monopoly (from Greek monos ÃŽ ¼ÃÅ'ÃŽ ½ÃŽ ¿Ãâ€š (alone or single) + polein πωÎ »ÃŽ µÃ¡ ¿â€"ÃŽ ½ (to sell)) exists when a specific person or enterprise is the only supplier of a particular commodity (this contrasts with a monopsony which relates to a single entity s control of a market to purchase a good or service, and with oligopoly which consists of a few entities dominating an industry).[2] Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goodsRead MoreDifferentiating Between Market Structures1924 Words   |  8 Pagesare four market structures that define the economic structure within the world’s economy; perfect competition, monopoly, monopolistic competition, and oligopoly. Team A will provide example of each market structure by completing a market structure table. The members o f Team A will also compare and contrast the differences between public goods, private goods, common resources, and natural monopolies. Another portion of the paper will discuss how supply of labor and demand of labor affect labor equilibriumRead MoreAnalysis Of Different Market Structures Of A Market Structure2335 Words   |  10 Pagesinto rapidly evolving market structures. Every market has characteristic, interconnected features, including the number of sellers, level of the seller collusion, level of competition, and production differentiation level. 2. Description of Diverse Market Structures 2.1. Perfect Competition A market that has a perfect competition structure has many firms competing in it. In the market, prices are determined by many buyers as well as sellers. Each of the successful firms in the market is well-establishedRead MoreCompetition : A Theory Of Competition Essay1644 Words   |  7 Pagesa. Theory of Competition Competition in the economic sphere denotes the process of rivalry between firms for the patronage of customers. The European Commission defines competition as a situation in which firms or sellers â€Å"independently strive for buyers’ patronage in order to achieve aparticular business objective, for example, profits, sales, or marketshare†7. Richard Whish refers to competition in the commercial world as â€Å"a striving for the custom and business of people in the market place†8.Read MoreAn Examination of Pricing Strategy: the Lego Group, Ltd3347 Words   |  14 Pages | American Military University |We will examine the market structures of Monopoly, Monopolistic Competition, Oligopoly, and Perfect Competition and there subsequent pricing | |strategies. Using this information we will examine in brief The LEGO Group as a Monopoly and now competing with Monopolistic Competition | |tendencies. Read MoreA Case Study Involving The Telecommunications Industry1933 Words   |  8 Pagestelecommunications industry. Perfect Competition Perfect competition is the concept that for a given product or service, there are multiple providers that provide a similar product or service. No one company can truly control the market because there are multiple competitors creating the same product for the same price (Samuelson Marks, 2012). Price cannot be determined by a single company, the overall supply and demand for a product determines the price. In perfect competition perfectly elastic demandRead MoreMonopoly and Discussion Board Posts1554 Words   |  7 PagesGuided Response: Review the discussion board posts of your classmates. Note their responses to the determinants of price elasticity of demand. Respond to at least two of your classmates. Discuss with your peers the characteristics of an inelastic versus   elastic good. 2. Externalities Explain the difference between a positive and negative externality. In your analysis, make sure to provide an example of each type of externality. Why does the government need to get involved with externalitiesRead MoreThe Theories Of Market Structure2791 Words   |  12 Pagesof which influence the firm’s pricing and output decisions. There are four theories of market structure. These theories are: - Pure competition - Monopolistic competition - Oligopoly - Monopoly Each of these theories produces some type of consumer behavior if the firm raises the price or if it reduces the price. Perfect Competition The model of perfect competition gives a description of a market situation that is defined by: Many buyers and sellers to the extent that the supply of one firm makes

Irony in the Story The Lottery by Shirley Jackson Essay

Irony in the Story The Lottery by Shirley Jackson In Shirley Jackson’s â€Å"The Lottery† irony is an underlying theme used throughout the story. The setting is introduced as a â€Å"clear and sunny† day, but ends with the brutal death of a housewife (715). The two people who essentially run the town, Mr. Graves and Mr. Summers, also have ironic names. In addition, the characters and the narrator make ironic statements throughout the story. The plot as a whole in â€Å"The Lottery† is filled with ironic twists. The whole idea of a lottery is to win something, and the reader is led to believe that the winner will receive some prize, when in actuality they will be stoned to death by the rest of the villagers. The villagers act very nonchalant†¦show more content†¦Summers has a delightful name, which also matches his description as â€Å"a round-faced, jovial man† (715). Mr. Summers is the mayor of the town and also runs the most successful business—the coal company. When one thin ks of summer one generally thinks of pleasantness and happiness. His name is ironic because his job is essentially in contrast to these thoughts. He is in charge of the random killing of a villager, which hardly seems pleasant. As the plot progress some of the characters make ironic statements. On page 717 there is a passage about the Watson boy drawing for him and his mother, which can be interpreted as his father was the one who was killed last year. One voice from the crowd says â€Å"Good fellow, Jack† and another says â€Å"Glad to see your mother’s got a man to do it.† These two statements make it seem like Jack is a hero, and his father was not a man because he was sacrificed to the lottery. Another ironic statement is made by Tessie after her family was chosen. She says â€Å"It wasn’t fair† referring to her husband drawing the piece of paper with the black dot (719). It is ironic that she is the only one who sees that the lottery really is not fair and is eventually killed because of it. It is also ironic that she was the only person late to the lottery, which she attributes to not remembering what day it is. Irony is a main theme in Shirley Jackson’s short story â€Å"The Lottery.† The irony in the story can be separated into three mainShow MoreRelatedAnalysis Of The Book The Lottery 916 Words   |  4 Pages The Foreshadowing in â€Å"The Lottery† On a warm day in late June, villagers gather in the square to participate in a lottery run by Mr. Summers. The children arrive first and begin collecting stones until their parents call them to order. Mr. Summers calls each head of the household forward to a black wooden box, where each selects a slip of paper. Once the men have chosen, Mr. Summers allows everyone to open the paper and see who wins. Bill Hutchinson wins and his wife immediately starts protestingRead MoreThe Lottery By Shirley Jackson Analysis784 Words   |  4 Pagesalways as we perceive them to be and we are often very surprised by certain outcomes. Throughout her short stories, â€Å"The Lottery† and â€Å"The Possibility of Evil†, Shirley Jackson shocks readers with her unthinkable plot twists. During both stories, they begin very peaceful and calm but as you near the end, your view of both readings completely change. Throughout â€Å"The Lottery† if you win the lottery that year you will be sacrificed, which no one would believe would happen as the title has a positive connotation;Read MoreHuman Corruption Of Human Nature1140 Words   |  5 PagesHuman Corruption in â€Å"The Lottery† â€Å"The Lottery† by Shirley Jackson is a classic short story in U.S literature. Written in 1948, the short story has been published in multiple languages around the world. It is still a required reading in U.S today. The story was later adapted into both a TV short and a play (â€Å"Shirley Jackson’s Bio†). Jackson uses irony and symbolism in â€Å"The Lottery† to show the corruption of human nature. The story opens up on a clear June day. It continues to describe an ominousRead MoreAnalysis of The Lottery by Shirley Jackson993 Words   |  4 Pageswe blindly adopt a religion, a political system, a literary dogma, we become automatons. We cease to grow. Shirley Jackson was born in 1919 in San Francisco, California to Leslie and Geraldine Jackson. She is most well known for her short story titled â€Å"The Lottery† which was first published in The New Yorker to overwhelming and mixed reviews. The lottery, as portrayed in the short story, is a religious, annual ceremony in the afternoon of June 27. This event is said to be older than Old Man WarnerRead MoreThe Lottery Literary Analysis1538 Words   |  7 Pagesgreen† (Jackson). In this first sentence of the The Lottery Shirley Jackson establishes a pleasant illusion, creating a sense of serenity. Jackson proceeds to mention that children begin to gather in the village, frolicing and conversing about school. The init ial scene and satirically labeled title, The Lottery, provide a somewhat satisfying first impression to the reader. The introductory scene is eminent to intentionally implement misconception of the narrative to encompass climatic irony in theRead MoreThe Lottery By Shirley Jackson931 Words   |  4 PagesIn 1948 Shirley Jackson composed the controversial short story â€Å"The Lottery.† Generally speaking, a title such as â€Å"The Lottery† is usually affiliated with an optimistic outlook. However, Jackson’s approach is quite unorthodox and will surely leave readers contemplating the intent of her content. The story exposes a crude, senseless lottery system in which random villagers are murdered amongst their peers. Essentially, the lottery system counteracts as a form of population control, but negatives easilyRead MoreCreative Use of Symbolism and Irony in Shirley Jacksons The Lottery576 Words   |  3 PagesA lottery has always provided a sense of hope and a dventure to people, but the lottery takes on an entirely different significance in Shirley Jackson’s â€Å"The Lottery†. The story takes place in a village of roughly three hundred people. Everyone in the village gathers at the center to take part. One representative from each family comes up, to take a piece of paper from an old, black, wooden box. The Hutchinson family has the black dot; each family Hutchinson member then comes up to pick another pieceRead MoreLiterary Elements in The Lottery, by Shirley Jackson1334 Words   |  6 Pages The short story, â€Å"The Lottery,† by Shirley Jackson communicates this theme by showing how the villagers participate in a lottery every year. In life, there are people who follow tradition because the have to, or they are used to following without question. The author, Shirley Jackson was born on December 14, 1916 in San Francisco, California. In 1937, Shirley Jackson attended Syracuse University where she began to write short stories. She was famous for the short story, â€Å"The Lottery,† and her bestRead More Shirley Jacksons The Lottery Essay1165 Words   |  5 Pages â€Å"The less there is to justify a traditional custom, the harder it is to get rid of it† (Twain). The Lottery begins during the summer. A small, seemingly normal, town is gathering to throw the annual â€Å"Lottery†. In the end, the townspeople—children included—gather around and stone the winner to death, simply because it was tradition. The story reveals how traditions can become outdated and ineffective. â€Å"I suppose, I hoped, by setting a particularly brutal ancient rite in the present and in my ownRead MoreThe Unexpected Surprise of Violence1009 Words   |  5 Pagesvalued once risks are taken, but the outcome is never expected. Shirley Jackson, reader of witchcraft books, horrifies people with her perspective on the understanding of merciless rituals that kept communities at ease. Shirley Jackson develops her theme of unexpected violence in her short story â€Å"The Lottery† through the use of irony, symbolism, and denouement. On a summer day in a small town in the short story, â€Å"The Lottery†, Jackson takes advantage of the peaceful environment and adds a convoluted

Love and HateThe Scarlet Letter free essay sample

This paper provides an analysis of the portrayals of love and hate in The Scarlet Letter. Relationships are explored and examined using the various interactions between three main characters: Hester, Dimmesdale and Chillingworth. This paper analyzes relationships in Nathanial Hawthornes classic tale of passion, sin and redemption, The Scarlet Letter. The author looks at the fine line between love and hate between Hester Prynne and the Reverend Dimmesdale, Hester and Roger Chillingworth, and between Hester and her fellow townspeople. In The Scarlet Letter, by Nathaniel Hawthorne, love and hate are two issues that appear indistinguishable at times. In this story, Hester Prynne wears a scarlet letter for the adultery she committed with Reverend Dimmesdale while she was married to Roger Chillingworth. The details of this emerge as the story progresses, and the story culminates in Dimmesdale passionately declaring his sin, and later dies after his premeditated confession, while Chillingworth dies soon after. We will write a custom essay sample on Love and Hate:The Scarlet Letter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As the above quote says, love and hate ?each leaves the passionate lover, or the no less passionate hater, forlorn and desolate by the withdrawal of his subject.? This literally means that the passion and feelings do not differ whether they are intended in love or hate. To love or hate a person with a passion indubitably results in the same feelings, and when the subject of these feelings disappears, the passion felt remains the same.

Lab Questions Unit free essay sample

Why is it somewhat surprising that they were accomplished musicians? Poor Glares were nuns from a catholic church. It Is surprising that they were skillful musicians because they secluded themselves In the church. So people didnt know what they were doing. When they did come out It shocked everyone. What is chanson? Chanson is a French song. What is the song Five Knacks for Ladles about? What type of song Is It? The song Is saying that no matter how valuable your assets are they are useless when It comes o honesty.This song Is a poetic song It gives you a deep message through the piece. Which of the songs was composed by Franciscan Obsoleteness, or Francis of Bosnia? Rhea song that was created by him was Se Mel Per Marginally What Is a lute? What Is the history of the lute? When was the lute used? A Lute Is a stringed Instrument it was used from the Medieval to the Baroque eras. We will write a custom essay sample on Lab Questions Unit or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It was the most important instrument during the renaissance. What is a harpsichord? Where nerve these instruments often found? A harpsichord was a keyboard instrument with tiring running horizontally.It is often found in a religious setting of an opera or solo performance. What is a notation knife? A notation knife is a knife with musical notes written on it whether on the handle as Nell as the blade. Many of the articles on the include a piece of artwork from the Renaissance period. How are music and art-related? Do you think that the music of the period is reflected in the art of the period? Why or why not? Music is a form of art. Music and art are both used to express ones feelings and mood. Yes, I do think that music reflected the art. The music could have been used to bring out what the composer or singer was feeling at the time. When writing or making music it cant be rushed you have to give it time. Of the different music files that youve heard from the Renaissance period, which one do you like the best? Why? Toronto did Cacao is one that I liked the best because it is meant for a festival. Festival is so cool and interesting. I havent been to one that was based on The Renaissance but I have been o like fall festivals. People are so free when they bring forth their music to present. I would go to everyone if I could. How does the music of the Renaissance defer from music today? (Think about the elements of music like tone color, rhythm, melody and so on). Renaissance music Is more relaxing and peaceful. The music that I listen to today is for partying or dancing. Also back then music was one there werent that many different styles out. Now there Is many to listen to also there are some that arent even In a genre.