How to be a Successful Oligopolistic Firm in the Long Run :: essays papers

How to be a Successful Oligopolistic Firm in the Long Run It is a well-known fact that every firm wants to be successful in its business. Sometimes it is difficult to decide what kind of actions to take in order to achieve it. Especially, it is hard on oligopoly market because this is one of the most complicated market structures. Oligopoly includes many models and theories such as duopoly where are just two producers and which pricing decisions remind monopoly, kinked demand curve, which decreases economic profit, and cartel, which brings economic profit just for the short-run. However, to be a successful oligopolistic firm in the long run, managers should include in the planning process such economic theories and models as producer interdependence, the prisoner’s dilemma, price leadership, nonprice adjustments, and correct using of barriers to entry. The essential factor of an oligopolistic firm is interdependence. Oligopoly involves few producers, which means more than one producer as it is in pure monopoly but not so many as in monopolistic competition or pure competition where it is difficult to follow rival firms’ actions. Therefore, due to small number of producers on oligopoly market, the price and output solutions are interdependent. As a result, firms can cooperate or come to an agreement profitable for everyone. Therefore, they can increase, as it is possible, their joint profits (Pleeter & Way, 1990, p.129). Further, oligopoly is divided on pure, which is producing homogeneous products, and differentiated, producing heterogeneous products (Gallaway, 2000). Economists Farris and Happel insist that the more the product is differentiated, the more firms become independent, and the more the product differentiation, â€Å"the less likely joint profit maximization exists for the entire group† (1987, p. 263). Co nsequently, it is worth to be interdependent. Another factor on the way to success on oligopoly market is understanding and using with advantage the game theory, in particular, prisoner’s dilemma. Game theory, a mathematical approach to strategic behavior, was stated by John von Neumann and Oscar Morgenstern in 1944 (Farris & Happel, 1987, p. 267). Game theory is useful in analyzing the actions in any strategic situation, from a game of chess to the pricing and output decisions of oligopoly firms where firms cooperate or conflict. The classic game is the prisoner’s dilemma: Numbers are years in prison for each arrested player considering different behaviors of each prisoner.

Double Trouble Mystery

It all started on one bitterly cold December morning, I do believe that it was the week before Christmas when myself and Dr Daniel Barnet were suddenly awoken by a knocking at the door, the Dr was the first to rise as I always take my time, as I lifted myself from the bed I could hear the voice of a lady, the voice seemed familiar but I could not for the life of me think who it was, I wrapped my dressing gown around me and opened the chamber door, the morning sunlight was protruding through a small gap in the curtains. As I walked down the hall way the voice became evermore familiar but still I could not muster as who the woman was. As I slowly stepped down the stairs I could hear that Dr Barnet and the lady were not alone. I reached the bottom step and turned the corner only to my surprise it was my sister and her faithful dog Simon. I could not believe my eyes that my own sister of the higher class would be seen with the middle classes such as my self and Dr Barnet. Dr Barnet said I would like you to meet my associate Professor Williams, as my sister turned round to look at me I could see in the way that she looked that something was not right. Her eyes finally made contact with me, the sun shining through the window lead my eye to the tear which was now forming in her eye; she ran over to me and sobbed its Chris, its Chris. Being her brother I instantly said calm down Rose what has happened to Chris. She burst out into floods of tears; Daniel sat her down and told her to start from the beginning of what had happened. While Dr Barnet was calming down my beloved sister I went into the kitchen and put the kettle on. Seconds later I heard Daniel call me in, so I put down the tea pot and plodded into the lounge, an instinct told me that I should go and sit next to Rose as she needed my support. In trying to do so Simon her faithful dog jumped up and sat next to her leaning over her as if she needed protection. I pulled a chair up to the side of her and said Rose can you tell Dr Barnet and I exactly what is wrong, â€Å"it all started last week when I had told Christopher that I wanted to throw a candle lit supper for a few acquaintances, but Christopher being Christopher refused to let me have it so I said to him that if he didn't let me have the party terrible things would happen to him.† explained Rose. â€Å"Go on† replied Daniel â€Å"as I was saying I told him that bad things would happen if he didn't let me have my candle lit supper, hoping that he would let me have it like he usually does, but this time he stuck with his original answer of NO, so I tried to convince him that it would be a fun evening leading up to Christmas but he would not have any more talk about the party, and since me saying that bad things would happen if he didn't let me have the party bad things have been happening, firstly Christopher's mother passes away and leaves nothing to him in her will, as she said that he was too greedy and only wanted to inherit the land or the money.† Dr Barnet asked Rose â€Å"when did Christopher's mother pass on† â€Å"On Friday was when she passed away† replied Rose Do proceed with the story I added taking notes as the story was being revealed. â€Å"after Christopher's mother's funeral we went round to his mothers estate, and went to tidy up all her belongings, Christopher found this very hard and could not bare to do any more as the sudden death of is mother had caused him to have severe psychological problems, this caused him to start drinking. He never drank not even on special occasions. He started acting like a child which our ten year old son Thomas found strange, seeing as Christopher had taught Thomas how to be a gentleman. Now Christopher had started drinking he would spend more and more time out of the house, one night he did not return† â€Å"Can you remember which night this was?† asked Dr Barnet â€Å"I believe it was Tuesday night that he did not return home.† â€Å"Has he ever done anything like this before† I added â€Å"Not to my recognition† replied Rose. â€Å"Please continue.† said Daniel. Well I telephoned the office in which he works and he was there but in a very important meeting on which the business' finance could depend. That night he returned home and was fine but he did not act his usual self. He did not give me the normal peck on the cheek and walked straight past Thomas as if he didn't actually exist. He went straight upstairs, got into bed and went to sleep without saying a word.† That is certainly unlike Christopher to ignore Thomas as they have such a good father son relationship. I said calmly even though rage was building up inside of me because of the way that Chris could treat my only sister. She continued with the ever amazing story. â€Å"The next morning he woke up did not say a word, went straight downstairs after getting dressed had his breakfast and went straight off to work. This was breaking his usual routine. As he would normally lounge around in his dressing gown before having breakfast, once he'd had breakfast with the family he would let Thomas use the bathroom first then he would use it. They would both get dressed and Christopher would take Thomas to school on his way to work. Thomas was so disappointed that his dad had ignored him and not taken him to school.† My blood began to boil could not hold in the hatred for this man any longer, he had been treating my sister and my nephew so badly I could just kill him. â€Å"Since then I have not heard or seen of him I thought he was staying at the office and doing over time to raise funds for Christmas to buy little Thomas his Christmas presents, that is why I have come to find you,† Do you have any more information about where he could be or anything that could get us started. Asked Dr Barnet. â€Å"Well there was a report that noises were heard near my husbands late mothers house, but I dare not go there as I do not have the company of a man who I stronger that I.† replied rose in a tearful kind of way. Dr Barnet and Rose sat down to talk about what Daniel and myself will have to do. Whilst all this was going on I decided to have a low fat breakfast as I had noticed that I was getting to be a bit on the large side. So toast and butter it was even though I found it hard to resist the preserves. Dr Barnet had arranged for us to meat Rose outside the house of her husband's late mother at 10:30, we arrived at about 10:15 to get a quick look at the neighbourhood surrounding the estate. There was a drive to the house about fifty metres long which had a Rolls Royce standing proudly at the top of the drive. The house was of Victorian build with a distinct window which overlooked the street, this window was situated in the attic, and Dr Barnet said to me that he just saw the blind move. At that point Rose turned up to let us into the home. The first thing we noticed was a family photo with Christopher on his father's shoulders and a boy who was identical to Christopher standing net to his mother along with his older brother Scott and sister Lyn who now owned the house. As we walked through the house there was a feeling that we should not be her but Dr Barnet said that I was only imagining it. We found another photograph of the two identical boys one of which being Christopher. When we reached the first floor of the house we found the wallet of Christopher and in it there was a business card saying: Christopher Smith accountant's office of the Perm Wigs Corporation. But a Bank card with the name Robert Smith on it. We finally managed to comb our way to the top floor and still nothing. Dr Barnet decided that we should look in the attic as he thought that he saw the blonds move. As we walked up the narrow stair way full of cobwebs and dust the floor boards creaked when we neared the summit we were blinded by the sunlight from a gap in the roof where a tile had blown off. The attic was full of boxes some of which were coffin shaped. And covered with white sheets, some of which had turned a brown colour over time. We searched through all the boxes and under all the sheets we had given up hope of finding any more clues until Rose stumbles upon a closet situated behind a large stack of boxes. There was no dust on these boxes so they had not been left in that spot for any length of time. Rose slowly turned the handle o the door and it opened with a creak. Behind the door there was a white cloth covering something. There was a red stain on the cloth which had started to turn a dark brown colour it looked as if it was blood. As Rose took hold of the corner of the cloth and pulled it. She exposed the badly beaten body of her husband who had been killed by means of extreme torture and being savagely attacked by a sharp object. I concluded that he had been tied up at one point as he seemed to have burns on his wrist but Dr Barnet said that he thought he had been shackled with chains as the burns looked like a chain pattern. Rose smith identified the body and said that she believed it to the body of her husband Christopher. By now Simon the Saint Bernard was jumping around getting agitated as he did so he bumped into a wall which was inside the store cupboard, the wall opened it was on a hinge and in this room we found a candle which was alight and a red rose in front of a picture of which we thought was Christopher and a tape player was on with the queen classic the show must go on playing. There was a small coffee table on the far side of this hidden room and sitting at it was Christopher but we thought that he was the dead person we found. Rose ran over to him and said in a soft voice Christopher and he turned round with tears streaming from his eyes with a piece of paper in his hands that says at the top last will and testimony. He is muttering â€Å"sorry mum I didn't mean to do it. Please for give me.† Rose slapped him round the face and asked him what he didn't mean to do to his brother Rob, He replied in a tearful way I killed Rob I killed Rob, â€Å"Who is Rob?† asked Dr Barnet My identical brother my mothers favourite son and he got the rolls and all of mothers money and I got nothing so I wanted it all for myself so I ties him up in chains and attached it to the mains electricity and I whipped him with grandfathers sabre which he used in a fencing competition. I called the authorities and they dealt with the matter so all the clues we found could not have helped us in any way as they were identical twins and we could not tell the difference and that was only down to the split personality of one greedy man who was not happy unless he had everything. Since then I have looked after my sister and I now live with them taking care of them until Christopher is finally classed as a sane person and he can once again look after his family. That was the tale of the double trouble mystery. Another mystery solved for the ever expanding case book of world famous Professor Williams and Dr Barnet.

Essay on William Butler Yeats - 846 Words

William Butler Yeats One of Irelands finest writers, William Butler Yeats served a long apprenticeship in the arts before his genius was fully developed. He did some of his greatest work after he was fifty. Yeats was born in Dublin, Ireland, on June 13, 1865. His father was a lawyer-turned-Irish painter. In 1867 the family followed him to London and settled in Bedford Park. In 1881 they returned to Dublin, where Yeats studied the Metropolitan School of Art. Yeats spent much time with his grandparents in County Sligo in northwestern Ireland. The scenery and folklore of this region greatly influenced Yeats work. For a while he studied art, but during the 1890s he became active in Londons literary life and helped found the Rhymers†¦show more content†¦The suggestive, beautiful lyricism of Yeats’ early career (including such works as the famous ‘Sailing to Byzantium’) changed to the tune of spare and tragic bitterness as Ireland faced certain war in the early 1910s. This was apparent in Yeats poem September 1913 in which he stated: Romantic Irelands dead and gone. During the civil war Irish Free State soldiers burned many of Yeats letters to Maud Gonne when they raided her house. At the start of the war Yeats went to Oxford, but then returned to Dublin, becoming a Senator in the same year. A free Ireland was Maud Gonne’s passion, and Yeats love for her sparked his interest in the countrys political struggles. From 1922 until 1928 he was a senator in the Dail Eireann, or Irish parliament. As a politician Yeats defended Protestant interests and took pro-Treaty stance against Republicans. Yeats was passionate about reforming Ireland, but frustrated at what seemed to be endless struggle. After his stint as a senator, Yeats devoted himself to literature and drama, believing that poems and plays would create a national unity capable of transforming the country. In 1916 he published what may be his most famous work, Easter 1916 about the Irish nationalist uprising. It referred to the executed leaders of the uprising and stated: Now and in time to be, / Wherever the green isShow MoreRelated William Butler Yeats Essays1185 Words   |  5 Pages On June 13 1865 William Butler Yeats was born in Dublin Ireland. From the start Yeats had artistic influences, due to the fact that his father Jack Butler Yeats was a noted Irish painter. He had no formal education until he was eleven, at that time he started at the Godolphin Grammar School in Hammer*censored*h England and later he enrolled in Erasmus Smith High School in Dublin. Throughout his schooling he was considered disappointing student, his studies were inconsistent, he was prone to dayRead More William Butler Yeats Essay906 Words   |  4 Pages William Butler Yeats -nbsp;nbsp;nbsp;nbsp;nbsp;An Irish poet, dramatist, and prose writer -nbsp;nbsp;nbsp;nbsp;nbsp;Known for having intellectual and often obsucure poetry works -nbsp;nbsp;nbsp;nbsp;nbsp;Quoted to be â€Å"one of the greatest English-language poets of the 20th century† -nbsp;nbsp;nbsp;nbsp;nbsp;Even Received the Nobel Prize for Literature in 1923 onbsp;nbsp;nbsp;nbsp;nbsp;What was most recognizable about that fact is that he is famous for his lyrical poeticRead MoreWilliam Butler Yeats Ageing Analysis1088 Words   |  5 PagesLiving (Three Messages from Sailing) Who is William Butler Yeats? William Butler Yeats is regarded as one of the finest poets of the century. Also, his return to the past as one would say has helped him to have a place in the future. 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The lifeRead MoreThe Style and Content of William Butler Yeats2176 Words   |  9 PagesThe Style and Content of William Butler Yeats William Butler Yeats was a man who is known for his extraordinary writings of the nineteenth century, and is considered to be one of the greatest poets of the English language. Yeats was a poet with extensive knowledge and was thought to have been born ahead of his time. Throughout his poetry and literary works he uses a combination of technique and style to express his meaningful ideas. Yeats became a pioneering poet who had a revolutionary type ofRead MoreWilliam Butler Yeats The Second Coming1011 Words   |  5 PagesIn William Butler Yeats The Second Coming, the poet makes phrases such as; â€Å"the best lack of conviction of stony sleep (19) and the falcon cannot hear the falconer (2). 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However, the minority Yeats belonged to belongedRead More William Butler Yeats’ The Magi Essay806 Words   |  4 PagesWilliam Butler Yeats’ The Magi   Ã‚  Ã‚   Briefly stated, William Butler Yeats’ The Magi is a poem about people who, upon reaching old age, or perhaps just older age, turn to God and the spiritual world for fulfillment and happiness. We are told in the footnote to this poem that, after writing The Dolls, Yeats looked up into the blue sky and imagined that he could see stiff figures in procession. Perhaps after imagining these figures, Yeats debated within himself whom these pictures could representRead MoreWilliam Butler Yeats And His Life1810 Words   |  8 PagesWho knows when a Nobel Prize would have been given to an Irish man if it had not been for William Butler Yeats? William Butler Yeats is a great figure in the history of Irish poetry and playwriting. He wrote many poems and plays throughout his entire life. He was a very modernist man and many of his poems were based on this, they were ahead of his time beautiful and inspiring. What was behind William Butler Yeats success, and what phases did he have to go through to get there. This man has influencedRead MorePolitics By William Butler Yeats Analysis1228 Words   |  5 Pagessurprise, women still face titles as degrading as Eve’s in this day and age. â€Å"Politics† by William Butler Yeats is a poem about this constant raging war women face. Yeats cleverly tells a story about a man and a girl to send a message to all women that they are more than what society makes them out to be using politics. The oppression women face is rarely talked about, and if it is, it is largely ignored. Yeats was able to convey his message without being ignored by comparing the oppression to politics