Take home exam paper Term Example | Topics and Well Written Essays - 1500 words

Take home trial - Term Paper ExampleThis unnatural inelastic demand is created as a means of boost and influencing the consumer to integrate with the given good or service. This approach is used rather often as a means of encouraging a higher than average integration with a given good or service hence the way that certain types of goods or services are so heavily marketed and finally create an unnatural aim of demand as compared to what might otherwise exist should an aggressive level of marketing not be utilized (Van Heerde et al., 2013).Marginal terms refers to the change in overall approach that occurs when the quantity produced increases by an increment of a certain unit. This is useful in terms of understanding at what point a given manufacturer or producer should cease production and/or at what point it will be economically beneficial to upgrade the production capacity to deal with change magnitude demand or expected increased demand in the future (Rogerson, 2011). As su ch, marginal cost is not however associated with raw material inputs and/or labor, it plenty include the cost of building or purchasing new production space and machinery up to and including a new factory or factories. The diminish marginal returns push aside be noted in the graph below as the areas in twain blue and red that appear as high values on the x and y axis.An oligopoly can be defined as a type of market form that is dominated by only handful of sellers. These oligopolies then have a high likelihood of colluding as a means of setting prices and reducing the entrants to the market that might threaten to drive down price. Oligopolies exist throughout the world and can be noted in the banking sector, automobile production sector, and telecommunications markets (Goettler & Gordon, 2014). Broadly speaking, governments around the globe have do gestures towards regulating and enforcing