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【Whyiscross-priceelasticityofdemandusefultoafirmaccusedofbeingamonopolist?答得出的同学请给100-200字的英文的回答~最佳答案我会再加一倍分数的~】
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更新时间:2024-03-29 14:28:44
问题描述:

Whyiscross-priceelasticityofdemandusefultoafirmaccusedofbeingamonopolist?

答得出的同学请给100-200字的英文的回答~最佳答案我会再加一倍分数的~

陈季香回答:
  Becauseyoucanarguethatifyourcross-priceelasticityispositiverelativetoanotherproduct,youthendonotpossessanyexclusivenesstotheproduct.   Inanotherword,beingamonopolist,youpossessmarketpower,thisismainlybecauseyouaresellingaexclusivegood,thatthereisnowhereelsetheconsumercangetitfrom.   Soifyouriseyourprice,someconsumermayleave,buttheotherswillstay.   However,ifitisthecasethatthepriceelasticityofdemandofyourproductispositivecomparedtoothergoods,thatis,ifyouriseyourpriceby1percent,thedemandofasecondgoodincreasesbyacertainpercentage,thenitmustbetruethatthereexistsotherfirmsorcompanythatsellsgoodswhichcouldpotentiallyreplaceyourproduct,thenyouarenolongeramonopolistsinceyoudontproduceanexclusivegood.   Thisiswhyyoucouldusecross-priceelasticityofdemandtodeterminewhetherafirmisamonopolist   BTW:dontusewhatijustsaidforyourexam,itsjusttoocasual,taketheideasandbuilduponit.ECON111isboring,imofftoACST211hopeididhelpyou.
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