Search results
Results from the WOW.Com Content Network
In object-oriented programming, the factory method pattern is a design pattern that uses factory methods to deal with the problem of creating objects without having to specify their exact classes. Rather than by calling a constructor , this is accomplished by invoking a factory method to create an object.
In class-based programming, a factory is an abstraction of a constructor of a class, while in prototype-based programming a factory is an abstraction of a prototype object. A constructor is concrete in that it creates objects as instances of one class, and by a specified process (class instantiation), while a factory can create objects by instantiating various classes, or by using other ...
The firm then attempts to maximize profits in each segment by equating MR and MC, [52] [61] [62] Generally the company charges a higher price to the group with a more price inelastic demand and a relatively lesser price to the group with a more elastic demand. [63] Examples of third degree price discrimination abound.
A monopoly produced through vertical integration is called a vertical monopoly: vertical in a supply chain measures a firm's distance from the final consumers; for example, a firm that sells directly to the consumers has a vertical position of 0, a firm that supplies to this firm has a vertical position of 1, and so on. [2]
A firm is a natural monopoly if it is able to serve the entire market demand at a lower cost than any combination of two or more smaller, more specialized firms. Or natural obstacles, such as the sole ownership of natural resources, De beers was a monopoly in the diamond industry for years.
The abstract factory pattern in software engineering is a design pattern that provides a way to create families of related objects without imposing their concrete classes, by encapsulating a group of individual factories that have a common theme without specifying their concrete classes. [1]
Monopolization is defined as the situation when a firm with durable and significant market power. For the court, it will evaluate the firm’s market share. Usually, a monopolized firm has more than 50% market share in a certain geographic area. Some state courts have higher market share requirements for this definition.
[1] [2] A monopoly occurs when a firm lacks any viable competition and is the sole producer of the industry's product. [1] [2] Because a monopoly faces no competition, it has absolute market power and can set a price above the firm's marginal cost. [1] [2] The monopoly ensures a monopoly price exists when it establishes the quantity of the ...