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VERTICAL INTEGRATION: The situation in which a firm participates in more than one successive stage of the production or distribution process. For example a soft drink company that also controls a sugar-producing firm is said to be vertically integrated because the soft drink company does not have to buy sugar from other firms to produce soft drinks. In some cases, two separate firms are vertically integrate because one firm produces a good or service and the other distributes it.
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COLLUSION, EFFICIENCY Colluding oligopolistic firms generally produce less output and charge a higher price than would be the case for a perfectly competitive industry. The efficiency of colluding oligopolistic firms is essentially the same as that for monopoly. In essence, colluding oligopolistic firms function just as if the market is a monopoly. The price charged by the colluding firms is higher than the marginal cost of production and the quantity is less. Most notably, price is greater than marginal, a violation of the key condition for efficiency.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store trying to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for crowded shopping malls.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Success is liking yourself, liking what you do, and liking how you do it." -- Maya Angelou, Poet and Author
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AIBD
Association of International Bond Dealers (now called International Securities Market Association)
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