Latest Articles
Price Searchers, Price Discriminators, and Price Takers (9/19/2006)
The uniqueness of products affects the pricing power of sellers.
The uniqueness of products affects the pricing power of sellers.
Identifying comparative advantage (8/28/2006)
How to plot production possibilities curve (frontier) and identify comparative advantage in a two-persons two-goods economy.
How to plot production possibilities curve (frontier) and identify comparative advantage in a two-persons two-goods economy.
Rivalry and Excludability in Goods (8/15/2006)
Goods can be classified by their consumption rivalry and ability to exclude non-payers.
Goods can be classified by their consumption rivalry and ability to exclude non-payers.
Market structure taxonomy (8/8/2006)
Market structure depends on the uniqueness of the products, barrier to entry, and scale economy. Specifically, the more unique the product, the higher the entry barrier, and the larger the scale economy is, the greater the pricing power.
Market structure depends on the uniqueness of the products, barrier to entry, and scale economy. Specifically, the more unique the product, the higher the entry barrier, and the larger the scale economy is, the greater the pricing power.
Demand elasticity and total revenue - flash (8/5/2006)
A linear downward-sloping demand curve has a range of demand elasticities and an inverted U-shaped total revenue curve under single pricing.
A linear downward-sloping demand curve has a range of demand elasticities and an inverted U-shaped total revenue curve under single pricing.
Free-Market Solutions (7/10/2006)
Free-market solutions can minimize cost and rent dissipation of market interventions and regulation.
Free-market solutions can minimize cost and rent dissipation of market interventions and regulation.
There Are no Widgets - Types of Goods (7/7/2006)
The law of supply and demand applies differently depending on the exact types of goods.
The law of supply and demand applies differently depending on the exact types of goods.
