Concepts of Monopoly and Competition

Concepts of Monopoly and Competition Monopolistic competition is a particular market structure which means there are a large number of small firms and companies whose products and services are slightly differentiated with other competitors. (Stephen, I Stuart, W. 2007: 147) Such as food market, apparel market, light industry product market. The characteristics of monopolistic competition can divided into several parts. As Hunter (1969:19) said, to begin with, product differentiation includes both internal and external differences. Internal differences contain quality, capability and so on. External differences contain packing, advertising and so on. Moreover, the consumption of firms and industries are more. In addition, it is more easily for companies to enter the market due to no requirement for too much investment and no need for high technology. Furthermore, manufactures have a slight impact on prices which causes high influence in short run and low influence in long run. Last of all, they face the downward sloping section of its curve which means the elasticity is less than perfect competitive market and more than pure monopolistic market. Monopolistic competition is also called imperfect competition that combines the characteristics both of perfect competition and monopoly. In perfect competition, goods and services are identical so that firms can entry freely. In contrast, pure monopoly just has a single seller because their goods are unique and firms who have monopolistic power are as a price maker. Unlike these two structures, monopolistic competition has its own features between them. Long run defined that in a long period of time, whole scale of production can be varied. Normal profit is the minimum amount required to keep a firm in its current line of production. Monopolistic competition in the long run allows firms enter and exit until they are making exactly zero economic profit. From the diagram, it is easily to see the existence of supernormal profit gives much more freedom to the industry who wants to enter, and then the competition makes firms earn normal profit in the long run. To analyze the figures, firstly, consumers need to pay higher price than that paid in perfect competition because of the average cost curve is above the minimum point. (Stephen, I Stuart, W. 2007: 149)Secondly, price exceeds marginal cost which leads to more profit for the monopolistically competitive firm. Thirdly, there is excess capacity in the monopolistic competition in the long run. E which shows that the average cost curve is tangential to the demand curve is a balanced poin t. F shows the average cost at the minimum level. This situation causes the demand and marginal revenue curves move to the left. (Stephen, I Stuart, W. 2007: 149)While at the same time, the market system reaches the equilibrium which illustrates that no encouragement for new firms to entry and no encouragement for former companies exit. What is most important is to analyze the process of the monopolistic competition in the long run. There is an explanation illustrates that the super profits induce other firms to enter, because of barriers is small, other manufactures can through the imitation and innovation to start making a profit market faces decline in demand. As a result, the curve happen a movement in order to become more elastic and flexible. (Huge, G. Ray, R. 2004:187) Assume there is no changeable for cost curve and move the demand curve to the balanced point which is tangential to the average cost, until the prices equals to costs, resulting in profits for the long run equilibrium state of zero. There are many possible reasons for why monopolistic competitive market structure can only make normal profit. For example, first and foremost, the main reason for that is the supply increases, but at the same time the demand of products or services are stay in the same level, so there are surplus for industries. In order to sell products, supplier will decrease the price which may gives them chances to attract consumers and put losses to a minimum. When the prices fall as same as the cost, firms can just get the normal profit. (Shepherd, W. G. Shepherd, J. M. 2004:43)In addition, more and more firms enter the market system, because it is easy and no barriers so that firms are just do like other former firms, as time goes by, no innovation causes consumers do not have any more demand for goods which also lead the decreased price. Furthermore, in the long run, on the one hand, firms can not easily to cancel the large amount of investment. On the other hand, firms need to change all f actors of production to get more capacity which is very difficult. Last but not at least, although the products of monopolistic competition are different from each other but they still can be instead of other products. If other firms which can produce better quality goods appear, people will more likely to buy. In this situation, old firms need to change their price into low degree so that they can make sure their losses are in a minimum point. Hunter (1969:161) emphasizes that a company just make normal profit can continue its business. The key points to keep balance are demand curve is tangential to average cost, Po=AC and MR=MC. For instance, real estate market now is belonging to monopolistic competitive market. There are many kinds of real estate market which are different but still have some similarities. In these markets which have smaller differences between each other, there will be more competitions. Most of the real estate sellers try to get power to close to monopoly which can reduce more competitions. Change the quality of goods and rise up the promotion are two methods that always seen in society. But just in a short run, they can get abnormal profit unless they become pure monopoly. To conclude, monopolistic competition is a special market structure which related to its features and characteristics. The profit they can make in long run is only the normal profit which depends on the reasons above. It is a nature process and phenomenon. References: Hunter, A. (1969). Monopoly and competition. Penguin, Harmondsworth. Huge, G. Ray, R. ( 2004). Microeconomics. Harlow: Prentice Hall/ Financial Times. Stephen, I. Stuart, W. (2007). Economics. Great Britain, Ashford Colour Press, Hampshire. Shepherd, W. G. Shepherd, J. M. (2004). The economics of industrial organization. Long Grove, Ill.: Waveland Press.

Englis Removalist Essay Essay

Engaging texts lead us to think about significant issues within society. Discuss with reference to your prescribed test and of at least ONE other related text. Significant issues within society are effectively explored through engaging texts. The two-act play ‘The Removalists† written by David Williamsons explores significant issues within society in Australia in the seventies. The significant issues discovered throughout â€Å"The Removalists† include abuse of power and corruption. Similarly the empowering film â€Å"Shawshank Redemption† directed by Frank Darabount, also explores issues within society. Unlike David Williamsons â€Å"The Removalists†, â€Å"Shawshank Redemption† explores similar issues within society in America, in the 1940s. A significant issue within society is corruption. Corruption was conveyed throughout the play â€Å"The Removalists†. This is evident when Simmonds states â€Å"We can’t handle anything big because there is only the two of us. We can handle anything small, but then again it’s hardly worth the effort if it’s small†. Even though Simmonds says this area is the geographical centre of crime, which portrays his contradicting statements. Since the sub-branch does not handle anything big or handle anything small, it indicates the corruption within the force. The character Simmonds again reflects corruption throughout the play when he says â€Å"I have never made and arrest in all my twenty three years in the force, Ross† Simmonds uses irony as Simmonds mentioned that this city has the greatest crime rate, and Simmonds is yet to make an arrest in all his time in the force. Through the character Simmonds, corruption is effectively explored throughout The Removalists. In a similar fashion, the social issue of corruption is evident throughout the film Shawshank Redemption. Corruption was evident in the beginning of the movie as throughout Shawshank items were being traded through the currenc y of cigarettes. The fast-paced panning motions were used to show that the trading was illegal but still completed with all the prisoners and some guards. Another way corruption is evident throughout Shawshank Redemption is through the character Andy as he stimulates a large part of corruption throughout Shawshank. â€Å"All I ask for is three beers a piece for each of my co-workers†. Since Andy is doing illegal work for the police Andy asks in a polite tone for something in return for the work he has done. Corruption is also evident when Norton asks another inmate â€Å"would you be able to testify before the judge?† Norton’s asks him in a friendly tone and a low volume so  Norton could let the inmate think he was his friend. The inmate told the truth, which led to the inmate being intentionally killed. This demonstrates in a similar fashion to The Removalists how the social issue of corruption is evident in Shawshank Redemption. The social issue of the abuse of power is evide nt throughout The Removalists. This is evident when Simmonds â€Å"bends down and hoist’s Fiona’s skirt up a little† and say’s â€Å"take a close-up one on her thigh†. Simmonds actions and words portray his abuse of power within the police force to pick on troubled Fiona. The alluring tone Simmonds’s used towards Ross to take a picture of Fiona’s thigh indicated his plan was to try and use his authority and power he has to seduce Fiona. The social issue of the abuse of power is again evident through the character Simmonds. When Simmonds arrests Kenny, Simmonds abuses his power by repeatedly punches Kenny. Simmonds uses force against Kenny when Kenny undermines him. â€Å"Pity about Kate. Sergeant. You would’ve been in like Flynn† Simmonds resorts to violence because he believes that he has the right to, because he doesn’t follow the rulebook. â€Å"Stuff the rule book up your arse†. Through the character Simmonds the social issue of the abuse of power is evident in The Removalists. Similarly, the social issue of the abuse of power is evident throughout Shawshank Redemption. The abuse of power is evident through the warden, Norton. â€Å"Nothing stops! Nothing! Or you will do the hardest time there is. No more protection from the guards† The high modality and commanding tone Norton uses is to remind Andy that he is still the boss, and that Andy is under Norton’s thumb. It also portrays the abuse of power as Norton who abuses his power as the warden in Shawshank by controlling Andy for his tax frauds. The issue of the abuse of power is again evident through Norton. â€Å"There’s going to be a book barbeque at the back if you say anything†. Norton threatens Andy to keep quiet or his six years of work in the prison to get the library will turn into ashes. Norton’s commanding tone to a beaten up Andy was to further intimidate and threaten him. The two acts committed by Norton towards Norton displays the social issue of the abuse of power throughout Shawshank Redemption. Through engaging texts significant issues within society are explored effectively. The texts â€Å"The Removalists† and â€Å"Shawshank Redemption† effectively explore and reflect the significant issues within society.

Wilma Mankiller Cherokee Chief, Activist, Feminist

Known for: first woman elected chief of the Cherokee NationDates: November 18, 1945 - April 6, 2010Occupation: activist, writer, community organizerAlso known as: Wilma Pearl Mankiller Born in Oklahoma, Mankillers father was of Cherokee ancestry and her mother of Irish and Dutch ancestry. She was one of eleven siblings. Her great-grandfather was one of the 16,000 who had been removed to Oklahoma in the 1830s in what has been called the Trail of Tears. The Mankiller family moved from Mankiller Flats to San Francisco in the 1950s when a drought forced them to leave their farm. She began attending college in California, where she met Hector Olaya, whom she married when she was eighteen. They had two daughters. At college, Wilma Mankiller was becoming involved in the movement for Native American rights, particularly in raising funds for activists who had taken over Alcatraz prison and also became involved in the womens movement. After completing her degree and getting a divorce from her husband, Wilma Mankiller returned to Oklahoma. Pursuing more education, she was injured on the drive from the University in an accident that injured her so seriously that it was not certain she would survive. The other driver was a close friend. She then was stricken for a time with myasthenia gravia. Wilma Mankiller became a community organizer for the Cherokee Nation and was notable for her ability to win grants. She won an election as Deputy Chief of the 70,000 member Nation in 1983 and replaced the Principal Chief in 1985 when he resigned to take a federal position. She was elected in her own right in 1987 -- the first woman to hold that position. She was re-elected again in 1991. In her position as chief, Wilma Mankiller oversaw both social welfare programs and tribal business interests and served as a cultural leader. She was named Ms. Magazines Woman of the Year in 1987 for her achievements.  In 1998, President Clinton awarded Wilma Mankiller the Medal of Freedom, the highest honor given to civilians in the United States. In 1990, Wilma Mankillers kidney problems likely inherited from her father who died of kidney disease, led to her brother donating a kidney to her. Wilma Mankiller continued in her position as Principal Chief of the Cherokee Nation until 1995 During those years, she also served on the board of the Ms. Foundation for Women, and wrote fiction. Having survived several serious illnesses, including kidney disease, lymphoma, and myasthenia gravis, and a major automobile accident earlier in her life, Mankiller was stricken with pancreatic cancer and died April 6, 2010. Her friend, Gloria Steinem, had excused herself from participation in a womens studies conference to be with Mankiller in her illness. Family, Background Mother: Irene MankillerFather: Charlie MankillerSiblings: four sisters, six brothers Education Skyline College, 1973San Francisco State College, 1973-1975Union for Experimenting Colleges and Universities, B.A., 1977University of Arkansas, 1979 Marriage, Children husband: Hector Hugo Olaya de Bardi (married  November  1963, divorced 1975; accountant)children:Felicia Marie Olaya, born 1964Gina Irene Olaya, born 1966husband: Charlie Soap (married October 1986; rural development organizer)Religion: PersonalOrganizations: Cherokee Nation

The Martial Arts Academy School Management System Project...

THE MARTIAL ARTS ACADEMY SCHOOL MANAGEMENT SYSTEM THE MARTIAL ARTS ACADEMY SCHOOL MANAGEMENT SYSTEM PROJECT TITLE: MAAS MS PROJECT CHARTER BUSINESS CASE VERSION 1 MARCH 2014 TABLE OF CONTENTS Project Description 3 Measurable Organization Value: MOV3 Deliverable Structure Chart Use-Case Diagram Scope Change Procedure Comparison of Alternatives 3 Skills, Knowledge amp; Roles5 Roles and Responsibilities6 Meeting Schedule7 Team Communication8 Team Rules and Expectations8 Signatures10 Project Description: MAAS MS The Martial Arts Academy has hired Bella Tech Solutions to design a system to help automate their business operations, improve student retention, and increase revenue. The academy has found†¦show more content†¦| Miles Stone Description | 1 | Client agrees to the terms of the business plan | 2 | Initialize and Conceptualize Phase Complete | 3 | Client agrees to the terms of the Project Charter | 4 | Client agrees to the terms of the Scope Statement | 5 | Client agrees to the terms of the Schedule and Budget Baseline Plan | 6 | Client agrees to the terms of the Project Plan | 7 | Project Launch Meeting | 8 | Develop Project Charter and Project Plan Phase Complete | 9 | Client agrees to the system proposal | 10 | Analysis and Design Phase Complete | 11 | Project managers signs off on the testing of the management system | 12 | Construction Phase Complete | 13 | Client agrees to the terms of the Test Plan | 14 | Clients signs off on the Test