Price determination under monopolistic competition pdf. (PDF) Monopolistic competition 2022-12-28

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The Hunger Games is a young adult novel written by Suzanne Collins and published in 2008. It is the first book in a trilogy of the same name, followed by Catching Fire and Mockingjay. The Hunger Games tells the story of a dystopian society called Panem, which is divided into 12 districts and ruled by a wealthy and powerful Capitol. As punishment for a past rebellion, the Capitol holds an annual event called the Hunger Games, in which one boy and one girl from each district are chosen by lottery to compete in a brutal televised fight to the death. The protagonist of the story is a 16-year-old girl named Katniss Everdeen, who volunteers to take her younger sister's place in the Hunger Games and becomes a symbol of hope for her district and the rebellion against the Capitol.

The Hunger Games has been a wildly popular and successful series, with the books selling millions of copies worldwide and the movies grossing billions of dollars at the box office. As with any successful work, there have been questions and controversies surrounding the copyright of The Hunger Games. In this essay, we will explore the issues surrounding the copyright of The Hunger Games and the legal protections that exist to protect the creative works of authors like Suzanne Collins.

First, let's define what copyright is and how it applies to creative works like novels. Copyright is a legal concept that protects the rights of creators to control the use and distribution of their creative works. This includes the right to reproduce, distribute, perform, and display the work, as well as the right to create derivatives of the work. In the United States, copyright protection applies to original works of authorship that are fixed in a tangible form, such as a book, movie, or song.

So, how does copyright apply to The Hunger Games? As the creator of The Hunger Games, Suzanne Collins holds the copyright to the work. This means that she has the exclusive right to control how the work is used and distributed, including the right to make copies of the book and authorize others to do so. She also has the right to create adaptations of the work, such as the Hunger Games movies, and to control the distribution of those adaptations.

However, copyright is not an absolute right, and there are certain exceptions and limitations to the exclusive rights of copyright holders. One such limitation is the "fair use" doctrine, which allows for the use of copyrighted material without permission in certain circumstances, such as for the purpose of criticism, commentary, news reporting, teaching, scholarship, or research. Fair use is determined on a case-by-case basis, and requires a balancing of the interests of the copyright holder with the public interest in the use of the material.

Another exception to copyright protection is the "public domain," which refers to works that are no longer protected by copyright or that were never protected to begin with. Works may enter the public domain for a variety of reasons, such as the expiration of the copyright term or the failure to meet certain formalities for obtaining copyright protection. Once a work is in the public domain, it can be used freely by anyone without permission or the need to pay royalties.

So, what does all of this mean for The Hunger Games and its copyright? As the copyright holder, Suzanne Collins has the exclusive right to control the use and distribution of the work, subject to the limitations of fair use and the public domain. This means that anyone who wants to use The Hunger Games in a way that falls outside of fair use or the public domain will need to obtain permission from Collins or her representatives. This could include things like making copies of the book for distribution, creating adaptations of the work, or using the work in advertising or other commercial contexts.

In conclusion, The Hunger Games is protected by

Price Determination under Monopolistic Competition

price determination under monopolistic competition pdf

The kink in the demand curve arises from the asymmetric behaviour of the firms. If one firm reduces its price and the other firms in the market do not respond, the price cutter may substantially increase its sales. Looking at figure 13, under monopolistic competition in the long run we see that LRAC is the long run average cost curve and LRMC the long run average marginal curve. While entry into an oligopolistic industry is possible, it is not easy as evidenced by the fact that there are only a few firms in the industry. But they do not sell same product.

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Monopolistic Competition: Meaning, Features, Price determination

price determination under monopolistic competition pdf

Price, costs and revenue are shown on OY-axis and output on OX-axis. If in the short run firms are suffering from losses, then in the long run some firms will leave the industry so that remaining firms are earning normal profits. Both perfect competition and pure monopoly are very unlikely to be found in the real world. Profits per firm will keep decreasing with the entry of more firms as there will be sharing of product demand among many firms. Quantity Pricing Decisions will breakdown and the cartel would collapse.

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Price Determination Under Monopolistic Competition

price determination under monopolistic competition pdf

Furthermore, by squaring the market share of each firm, the Heirfindahl index appropriately gives a much large weight to larger than to smaller firms in the industry. Overall, we can say that the Fig. Price determination under monopolistic competition Monopolistic competition is the market situation between perfect competition and monopoly. Since there are only a few firms selling a homogeneous or differentiated product in oligopolistic markets, the action of each firm affects the other firms in the industry and vice versa. The firm having a good reputation in the market usually sets the price. While this is also true for oligopoly firms, it needs to be supplemented by other behavioural features of firm rivalry. The four-firm concentration ratio for most manufacturing industries in the United States is between 20 and 80 percent.

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How to Determine Price & Output under Monopolistic Competition?

price determination under monopolistic competition pdf

More seriously, suppose the KGB has actually arrested someone named Tchaikovsky and the conductor separately. Neither monopoly nor perfect competition is found in real life but only monopolistic competition. It can be seen from Diagram 4. Two important distinguishing features of monopolistic competition are: a Product differentiation, and b Existence of many firms supplying the market. These two forms are an integral part of different types of cooperative oligopoly. Since, in the short-run Price and Output Determination in monopolistic competition, there is a difference in cost, the firm with lower unit costs earns only average profits. PT is the supernormal profit per unit of output.

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price_determination_under_monopolistic_blog.sigma-systems.com

price determination under monopolistic competition pdf

This can be seen in the airlines industry in India where the dominant firm Indian Airlines IA sets prices and the others Jet and Sahara follow the price changes of IA. Thus, the firms will earn normal profit only during long period. Support both Android and iOS. However, on close scrutiny, we find that each seller varies the product slightly to make it different from its competitors. This situation would then attract new firms in the market. Now select the SlideShare you want to download if you want to download all SlideShare then click on the checkbox on the top right corner and click on the download button in the top left corner.

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price determination under monopolistic competition pdf

After clicking on download button your file will be downloaded. In the time of inflation, to determine selling price is one of main challenge for a manager because today real market is of monopolistic competition. Thus, the price under monopolistic competition is determined at the point at which marginal cost and marginal revenue of a firm are equal. Therefore, the firm is not making any profit or loss. The characteristic features of monopolistic competition are as follows: A large number of sellers: Monopolistic market has a large number of sellers of a product but each seller acts independently and has no influence on others.

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Monopolistic Competition: Features, Price Determination, Examples

price determination under monopolistic competition pdf

Let us start from P 1 in Figure 13. In the real world, it is the imperfect competition lying between perfect competition and pure monopoly. Each individual firm has relatively small part of the total market so that each has a very limited control over the price of the product. In the real world, it is the imperfect competition lying between perfect competition and pure monopoly. When the firm is operating in the non-cooperative oligopolistic market it results in decline in sales if it changes its price to P 1.

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(DOC) Price Determination under Monopolistic Competition

price determination under monopolistic competition pdf

ADVERTISEMENTS: The following article will guide you about how to determine price and output under monopolistic competition. Here, a firm always gets normal profit because if a firm is getting abnormal profit in short-term, new firms will enter into the market. The Heirfindahl index has become of great practical importance since 1982 when the Justice Department in the US announced new guidelines for evaluating proposed mergers based on this index. If Tchaikovsky holds out, the conductor gets either 3 years by holding out or only one year confessing. Why you should use ssSlideShare ssSlideShare. This is shown in Figure 13.

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price determination under monopolistic competition pdf

Marginal Revenue for prices above the kink is given by MR 1 and below the kink as MR 2. FAQ Monopolistic competition is a situation of market in which the number of producers and sellers is large though not so large as to create the situation of perfect competition. These are the products produced by competing monopolists that have separate identity, brand, logos, patents, quality and such other product features. This restraint was often in direct violation of high command orders. It's very simple please follow the below steps. Price Determination under Monopolistic Competition Imperfect competition covers all situations where there is neither pure competition nor pure monopoly. Therefore, in the long run, equilibrium is established when firms are earning only normal profits.

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