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    How to be a Successful Oligopolistic Firm in the Long Run It is a well-known fact that every firm wants to be successful in its business. Sometimes it is difficult to decide what kind of actions to take in order to achieve it. Especially, it is hard on oligopoly market because this is one of the most complicated market structures. Oligopoly includes many models and theories such as duopoly where are just two producers and which pricing decisions remind monopoly, kinked demand curve, which decreases

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    built and directly sold in their country. The only difference that is seen here is that there are two different types of firms. There is a short-run and a long-run. A short-run company has a specific period of time where the product of at least one input is fixed and the rest of the factors can be varied (The American Heritage Dictionary). The long-run company is where all the quantities of all the factors of production used in the production process can be changed (The American Heritage Dictionary)

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    Run Like the Wind: A Geographical Look At Kenyan Supremacy in Long Distance Running In East Africa, there is an area know as the Great Rift Valley. It is in this Great Rift Valley, where the world’s most dominant long distance runners come from, Kenya. In the past three decades, runners from Kenya have simply dominated the sport of long distance running in all facets including cross-country, track, and the marathon. In the world rankings for marathon running, Kenyans hold 8 of the top 10 spots

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    Optimism in the Long Run

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    The Wall Street Journal (2014) published an article on January 30th, 2014 discussing the macroeconomic factors that reflect a growing U.S. economy. Some of the key macroeconomic indices discussed include: 1. Gross Domestic Product (GDP) 2. Inflation 3. Trade Deficit. Within these macroeconomic indices lie several of the top ten general economic principles to include: 1. People respond to incentives 2. Trade can make everyone better off 3. A country’s standard of living depends on its ability to produce

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    profit is affected by the amount of revenue it generates and the costs associated with production. When a company is deciding how much to produce, there are both short-run and long-run production periods. A short run is the current time span during which at least one fixed input must be paid whether or not any output is produced. A long run is a time period far enough into the future that all fixed inputs can be variable. Planning for the future involves looking at all possible situations which will maximize

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    foregoing of a salary to add revenue to the business early on. 2. In economics, the short run is where at least one input in the production process is fixed and the rest are variables within a certain period of time. Long run is when all inputs are able to be adjusted in a certain period of time. A real world example of a short run would be when a firm cannot change a certain person’s salary in the ‘short run’ due to a contract for a certain period of time. They cannot alter the wage until the next

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    Unemployment Rises 3. Explaining Short-Run Economic Fluctuations 3.1 How the Short Run Differs from the Long Run 3.2 The Basic Model of Economic Fluctuations 4. The Aggregate Demand Curve 4.1 Why the Aggregate Demand Curve Slopes Downwards 4.2 Why the Aggregate Demand Curve May Shift 5. The Aggregate Supply Curve 5.1 Why the Aggregate Supply Curve is Vertical in the Long Run 5.2 Why the Aggregate Supply Curve May Shift 5.3 A New Way to Depict Long Run Growth and Inflation 5.4 Why the Aggregate

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    of the public's interest. There are several reasons why monopolies may be against the public interest. It is claimed that monopolies produce at a lower level output and charge a higher price than under perfect competition in both the short run and the long run. Consider the diagram above. Assume that this monopolist attempts to maximise profits. Equating MC=MR yields an output of Qm and a price of Pm. If the same industry existed under perfect competition however, the price would be Ppc and output

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    demand both in the long run and in the short run and show their effects on macroeconomic policy. In this graph we can see that as a result of a decrease in income taxes, aggregate demand will shift to the right from AD to AD1. Aggregate supply in the long run is a vertical line that keeps Y at the natural rate of Y*, which inturn produces constant output and increased prices which is an affect of increased inflation. Here we can see that aggregate supply in the short run is a horizontal line

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    the government to pay to have the problem solved (Lloyd, M. V., G. B., Doherty, M. D., Jeffree, R. A., John, J., Majer, J. D., . . . Nichols, O. G. 5-6) Instead of trying to save some time in the long run and make sure that the mine wasn’t going to affect the biodiversity and environment in the long run they just did whatever they wanted how they wanted. Because of the severity of the pollution in the King River there is no way for neither the Tasmanian nor the Australian governments to be able to

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