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What were some of the methods used by businessment to create monopolies and increase profits?
1. Take over a major part of production. E.g. control the important resources, manufacturing, or information of a product
2. underprice the product to entice consumers to buy your product (while underpaying for the resources or the workers)
3. gather a legal right to a monopoly, E.g. copyrights
What else can I help you with?
How does the price elasticity of demand influence the pricing strategies of monopolies?
The price elasticity of demand affects how monopolies set prices. If demand is elastic (responsive to price changes), monopolies may lower prices to increase revenue. If demand is inelastic (not responsive), monopolies can raise prices without losing many customers. Monopolies use this information to maximize profits and maintain their market power.
Can monopolies make abnormal profits in the long run?
Yes, they can. Since they have a low amount of competitors. This means the competitors won't be eating up their profits. They can exercise the method of putting a higher price at a lower output, therefore people who really need the product are forced to buy it. or example, if Apple was a monopoly they could increase the price of a mackbook to $4000 and people would still buy it and therefore they are increasing their profits. Monopolies could also put some of their profits in research and development so they will be non contestable and the consumers will appreciate the advanced technology therefore their growth will increase. This will increase or maintain their abnormal profits.
What was formed with the goals of eliminating competitors and increasing their own profits?
Monopolies
Why do many governments in countries with market economies outlaw or control monopolies?
Monopolies can make excessive profits by over-charging consumers.
Why do many governments in countries with market economies control outlaw monopolies?
Monopolies can make excessive profits by over-charging consumers.
How does the price elasticity of demand influence the pricing strategies of monopolies?
The price elasticity of demand affects how monopolies set prices. If demand is elastic (responsive to price changes), monopolies may lower prices to increase revenue. If demand is inelastic (not responsive), monopolies can raise prices without losing many customers. Monopolies use this information to maximize profits and maintain their market power.
Can monopolies make abnormal profits in the long run?
Yes, they can. Since they have a low amount of competitors. This means the competitors won't be eating up their profits. They can exercise the method of putting a higher price at a lower output, therefore people who really need the product are forced to buy it. or example, if Apple was a monopoly they could increase the price of a mackbook to $4000 and people would still buy it and therefore they are increasing their profits. Monopolies could also put some of their profits in research and development so they will be non contestable and the consumers will appreciate the advanced technology therefore their growth will increase. This will increase or maintain their abnormal profits.
What was formed with the goals of eliminating competitors and increasing their own profits?
Monopolies
Why do many governments in countries with market economies control outlaw monopolies?
Monopolies can make excessive profits by over-charging consumers.
Why do many governments in countries with market economies outlaw or control monopolies?
Monopolies can make excessive profits by over-charging consumers.
How can I maximize my profits by strategically selling properties in Monopoly?
To maximize profits in Monopoly, strategically sell properties by focusing on monopolies, upgrading properties with houses and hotels, and negotiating deals with other players. This can increase rent prices and create a strong income stream. Additionally, consider the value of properties in relation to their cost and potential for development. By carefully managing your properties and making strategic decisions, you can increase your profits in the game.
Which would be the most likely cause of an increase in cooprate dividends?
an increase of corporate profits
What did cartels monopolies and trusts as well as horizontal and vertical integration all share a goal of?
cartels, monopolies, trust, and horizontal and vertical integration all share the goal of
Valuation of goodwill and shares?
Goodwill is the advantage of good name or reputation of a business. It attracts customer & increase sales & profits. methods: arbitary, average profit, super profit, capitalisation, annuity, hidden goodwill methods.
What is Mcvities mission?
To increase profits
What are international marketing objectives?
to increase profits
How do you sell houses in Monopoly to maximize your profits?
To maximize profits when selling houses in Monopoly, strategically place houses on properties that are most likely to be landed on by opponents. Focus on properties with higher rent values and try to create monopolies to increase rent. Additionally, consider the balance between investing in houses and keeping enough cash on hand for other expenses.
