Monthly Archives: 十月 2008

There are some different options for policymakers to achieve the goal of reducing the number of people in poverty. Each of the options does help some people escape poverty, but none of them is perfect. Continue reading →

the study of wage differences among groups does not establish any clear conclusion about the prevalence of discrimination. Continue reading →

Labor, land and capital each earn the value of their marginal contribution to the production process. An event that changes the supply of any factor of production can alter the earnings of all the factors. The change in earnings of any factor can be found by analyzing the impact of the event on the value of the marginal product of that factor. Continue reading →

Monopolistic competition, like oligopoly, is a market structure that lies between the extreme cases of competition and monopoly. Continue reading →

when firms in an oligopoly individually choose production to maximizing profit, they produce a quantity of output greater than the level produced by monopoly and less than by competition. The oligopoly price is less than monopoly price but greater than the competitive price. Continue reading →