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  2. Monopolistic competition - Wikipedia

    en.wikipedia.org/wiki/Monopolistic_competition

    In monopolistic competition, a company takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other companies. [1][2] If this happens in the presence of a coercive government, monopolistic competition will fall into government-granted monopoly. Unlike perfect competition, the company maintains ...

  3. Natural monopoly - Wikipedia

    en.wikipedia.org/wiki/Natural_monopoly

    Two different types of cost are important in microeconomics: marginal cost and fixed cost.The marginal cost is the cost to the company of serving one more customer. In an industry where a natural monopoly does not exist, the vast majority of industries, the marginal cost decreases with economies of scale, then increases as the company has growing pains (overworking its employees, bureaucracy ...

  4. Economies of scale - Wikipedia

    en.wikipedia.org/wiki/Economies_of_scale

    v. t. e. In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables an increase in scale that is, increased production with lowered cost. [ 1 ]

  5. Pricing strategies - Wikipedia

    en.wikipedia.org/wiki/Pricing_strategies

    Cost plus pricing is a cost-based method for setting the prices of goods and services. Under this approach, the direct material cost, direct labor cost, and overhead costs for a product are added up and added to a markup percentage (to create a profit margin) in order to derive the price of the product.

  6. Cournot competition - Wikipedia

    en.wikipedia.org/wiki/Cournot_competition

    Cournot competition. Appearance. Cournot competition is an economic model used to describe an industry structure in which companies compete on the amount of output they will produce, which they decide on independently of each other and at the same time. It is named after Antoine Augustin Cournot (1801–1877) who was inspired by observing ...

  7. Managerial economics - Wikipedia

    en.wikipedia.org/wiki/Managerial_economics

    Economics is the study of the production, distribution, and consumption of goods and services. Managerial economics involves the use of economic theories and principles to make decisions regarding the allocation of scarce resources. [2] It guides managers in making decisions relating to the company's customers, competitors, suppliers, and ...

  8. Perfect competition - Wikipedia

    en.wikipedia.org/wiki/Perfect_competition

    v. t. e. In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In theoretical models where conditions of perfect competition hold, it has been demonstrated that a market will reach ...

  9. Monopoly - Wikipedia

    en.wikipedia.org/wiki/Monopoly

    Otherwise, other firms can produce substitutes to replace the monopoly firm's products, and a monopolistic firm cannot become the only supplier in the market. So consumers have no other choice. Economic barriers : Economic barriers include economies of scale , capital requirements, cost advantages, and technological superiority.

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    marginal cost pricing strategymarginal cost pricing policy