Edexcel A Level Economics A:復習筆記3.4.7 Contestability
Characteristics of Contestable Markets A?contestable market?occurs when there is?freedom of entry?into a market & where?costs of exit are low A contestable market & competition are differen...
Edexcel A Level Economics A:復習筆記3.4.6 Monopsony
Monopsony Power A?monopsony?occurs when there is a?single buyer in the market A pure monopsony is actually very rare, however there are many cases where there is a?dominant buyer?in an oligopoly or...
Edexcel A Level Economics A:復習筆記3.4.5 Monopoly
Characteristics of Monopoly A monopoly is a market structure in which there is a?single seller There are no?substitute products The firm has?complete market power?& is able to set prices & ...
Edexcel A Level Economics A:復習筆記3.4.4 Oligopoly
Characteristics of Oligopoly Most markets are?imperfectly competitive Most imperfectly competitive industries operate in an?oligopoly?market structure E.g., Banks, insurance companies, department s...
NEC競賽書單與學習資源推薦，NEC備考學生絕對不能錯過！
NEC是美國最具影響力的高中生經濟學學術活動，經過17年的發展與積累，每年有11，000名學生受邀參與。NEC受到美國學術界、金融界及商業界的廣泛認可。參加NEC 的獨特備賽經歷和取得的優異成績將會最大程度地助力美...
Edexcel A Level Economics A:復習筆記3.4.3 Monopolistic Competition
Characteristics of Monopolistic Markets The characteristics of?monopolistic competition?are as follows There are a large number of small firms:?each one is relatively small and can act independentl...
Edexcel A Level Economics A:復習筆記3.4.2 Perfect Competition
Characteristics of Perfect Competition The characteristics of?perfect competition?are as follows There are many buyers and sellers:?due to the number of market participants sellers are?price takers...
Edexcel A Level Economics A:復習筆記3.4.1 Efficiency
Types of Efficiency An Explanation of the Four Types of Efficiency Allocative Efficiency Occurs at the level of output where average revenue = marginal cost?(AR = MC) At this point,?resources are a...
Edexcel A Level Economics A:復習筆記3.3.4 Normal Profits, Supernormal Profits & Losses
Condition for Profit Maximisation To maximise profit firms should produce up to the level of output where?marginal cost (MC)?=?marginal revenue (MR) Calculations To Demonstrate the Profit Maximisat...
Edexcel A Level Economics A:復習筆記3.3.3 Economies & Diseconomies of Scale
Economies & Diseconomies of Scale As a firm increases its?scale of output in the long-run, its?long-run average total costs (LRATC)?will initially?decrease?due to the benefits it receives These...
Edexcel A Level Economics A:復習筆記3.3.2 Costs
The Relationships Between Different Types of Costs Fixed costs?are costs that do not change as the level of output changes These have to be paid whether output is zero or 5000 e.g. building rent, m...
Edexcel A Level Economics A:復習筆記3.3.1 Revenue
Total, Average & Marginal Revenue Total revenue?is the total value of all sales a firm incurs ??? Average revenue?is the overall revenue per unit Marginal revenue?is the extra revenue received ...
