The Nash equilibrium in an oligopolistic market is generally worse for society than the outcome under collusion because the price is equal to marginal price.
<h3>What is Oligopoly?</h3>
- A market structure which has a small number of enterprises and none of which can prevent the others from having a large impact known as an oligopoly.
- The market share of the major companies is calculated using the concentration ratio.
- Basically, a market with a monopoly has just one producer, a duopoly has two businesses.
- An oligopoly has three or more businesses. Although there is no exact maximum limit to the number of businesses in an oligopoly.
- Mainly, there must be few enough that the decisions of one business have a big impact on the others.
<h3>What is Nash Equilibrium?</h3>
- The Nash equilibrium is the most popular technique in game theory to describe the outcome of a non-cooperative game involving two or more participants.
- Each player in a Nash equilibrium is considered to be aware of the equilibrium strategies of the other players, and changing one's own strategy will not benefit anyone.
- Nash Equilibrium shares its name with the mathematician John Forbes Nash Jr.
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It is called a marketing information system. It is because a marketing information system is the one responsible for supporting decision making in terms of the marketing field. It manages the informational needs that are needed in the market and those are found above which are the things being provided and distributed.
Perpetual inventory system - is the type of inventory system Badger Enterprise uses. A perpetual inventory system is when companies keep track of each individual purchase and sale of inventory continuously. If they use a periodic inventory system, they will do it periodically, or over a given point in time.
Answer:
Descriptive
Explanation:
Any company,business or organization that want to know how well they performed in the first year of their business or first year of operation will have to make use of DESCRIPTIVE ANALYSIS reason been that this type of ANALYSIS will help to collect data, analysed and summarize the data in details in order to interprete and present the data in a more useful way.
Therefore the type of analysis tells us how we performed the first year is called DESCRIPTIVE ANALYSIS
Answer:
Purchases= 20,675 pounds
Explanation:
Giving the following information:
Production:
Feb= 20,900
Mar= 20,000
One pound of material is required for each finished unit.
Desired ending inventory= 25% of the following month's production needs.
<u>To calculate the purchase required for February, we need to use the following formula:</u>
Purchases= production + desired ending inventory - beginning inventory
Purchases= 20,900 + (20,000*0.25) - (20,900*0.25)
Purchases= 20,675
