Jaisul Naik

Monopolistic Competition A market structure has monopolistic competition if there are low barriers to entry and there is slight product differentiation. In the short run, the firm acts like a monopoly. The outcome

A pure monopoly is a sole seller in a market, and a firm can have monopoly power if it has a high market share. Monopoly markets have high barriers to entry, high product

Expansionary fiscal policy can be used to reduce cyclical unemployment. Unemployment is when people are willing and able to work but cannot find a job. Cylical unemployment is caused by a lack of

Unemployment occurs when people are willing and able to work but cannot find a job. If the unemployment rate is high, then more people will have low or no disposable income. Therefore, they

Inflation is when there is a rise in average price level. It is measured by the CPI which tracks the monthly prices of a weighted average basket of goods and services. If inflation