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THE WORLD OF IMPERFECT COMPETION - Essay Example

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Definitions to financial terminologies are consolidated taking a keen considerations to the study work provided in order to achieve a broader understanding of the topic in question. As much as possible the paper has encompassed recent and practical examples to explain each type of market structure featured. To introduce this paper, a brief startup article on Google Documents vs. Microsoft office suite opens the discussion on how parameters that deviate from a perfect competitive market structure drives a the competition into business rivalry, creating an oligopolistic market structure where decisions taken by one Firm affects or influences decisions taken by a competing firm. To further the debate an article from CNNMoney’s Fortune publication introduces a recent development between Google+ and Facebook, businesses that would otherwise be symbiotic in nature, turn to be suspicions of each other and develop similar products that on the long run will compete against each other. Keywords: Perfect competition, monopoly, monopolistic, oligopoly The World of Imperfect Competition In 2007, Google unveiled Google documents application, a free word processor, and spreadsheet. The company’s intentions might not have been to bite a chunk of Microsoft’s core franchise- Microsoft office suite; but it affected downwards Microsoft’s expected earnings by a few million dollars. ...
Facebook recruited a number of Google engineers to develop the innovative search tool that has superior queries compared to

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Summary

This paper endeavors to elucidate different variations of global market structures, with an emphasis to imperfect competitive markets. To achieve that purpose, examples researched from online business publications and journals have been featured. …
Author : braedenchamplin
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