Competition & Regulation at Hochschule Rhein-Waal

Flashcards and summaries for Competition & Regulation at the Hochschule Rhein-Waal

Arrow Arrow

It’s completely free

studysmarter schule studium
d

4.5 /5

studysmarter schule studium
d

4.8 /5

studysmarter schule studium
d

4.5 /5

studysmarter schule studium
d

4.8 /5

Study with flashcards and summaries for the course Competition & Regulation at the Hochschule Rhein-Waal

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

What is competition?

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

What is competition policy?

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

Name some examples of important schools of thought!
This was only a preview of our StudySmarter flashcards.
Flascard Icon Flascard Icon

Millions of flashcards created by students

Flascard Icon Flascard Icon

Create your own flashcards as quick as possible

Flascard Icon Flascard Icon

Learning-Assistant with spaced repetition algorithm

Sign up for free!

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

Which of these following goods and services are considered as “public goods”? Explain why. 1. Cable TV. 2. Vaccinations. 3. Traffic lights.

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

Name all types of costs (explicit and implicit) which must be taken into account!

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

What are economies of scale?

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

What is a natural monopoly?
This was only a preview of our StudySmarter flashcards.
Flascard Icon Flascard Icon

Millions of flashcards created by students

Flascard Icon Flascard Icon

Create your own flashcards as quick as possible

Flascard Icon Flascard Icon

Learning-Assistant with spaced repetition algorithm

Sign up for free!

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

What is a price taker?

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

What is the effect of scale economies in an industry?

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

When does perfect competition happen according to the Lerner Index?

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

How do you calculate the Herfindahl - Hirschman Index (HHI)?
This was only a preview of our StudySmarter flashcards.
Flascard Icon Flascard Icon

Millions of flashcards created by students

Flascard Icon Flascard Icon

Create your own flashcards as quick as possible

Flascard Icon Flascard Icon

Learning-Assistant with spaced repetition algorithm

Sign up for free!

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

What types of markets are there according to the HHI?

Your peers in the course Competition & Regulation at the Hochschule Rhein-Waal create and share summaries, flashcards, study plans and other learning materials with the intelligent StudySmarter learning app.

Get started now!

Flashcard Flashcard

Exemplary flashcards for Competition & Regulation at the Hochschule Rhein-Waal on StudySmarter:

Competition & Regulation

What is competition?
It is the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms.

Competition & Regulation

What is competition policy?
Analysis of policy option to promote competition and application of rules to safeguard fair competition.

Competition & Regulation

Name some examples of important schools of thought!
Classical economics, Austrians, Ordoliberalism, workable competition (Harvard), freedom to compete (Hoppmann), Chicago school, etc.

Competition & Regulation

Which of these following goods and services are considered as “public goods”? Explain why. 1. Cable TV. 2. Vaccinations. 3. Traffic lights.
Only TRAFFIC LIGHTS qualify as a public good, because only they can be provided to two or more people at the same cost as to one person alone. (Note that, even though vaccinations are not public goods, there are positive externalities associated with their provision. The more people are vaccinated against a disease, the less chance there is that other people will be infected by that disease.)

Competition & Regulation

Name all types of costs (explicit and implicit) which must be taken into account!
Fixed Costs, Variable Costs and Total Costs as the first level. Then we have Average Fixed Cost, Average Variable Cost and Average Total Cost (AFC, AVC & ATC). The third level is Short Run Average Cost & Short Run Marginal Cost (SRAC, SRMC). The last level is Long Run Average Cost & Long Run Marginal Cost (LRAC, LRMC).

Competition & Regulation

What are economies of scale?
It means that increase in output leads to a DECREASE of the average cost per unit.

Competition & Regulation

What is a natural monopoly?
It is more efficient for one firm to serve an entire market than for two or more firms.

Competition & Regulation

What is a price taker?
It is a person or a company that has no control to dictate prices for a good or service.

Competition & Regulation

What is the effect of scale economies in an industry?
It increases the number of firms in that industry.

Competition & Regulation

When does perfect competition happen according to the Lerner Index?
When the LI is 0, since P= MC.

Competition & Regulation

How do you calculate the Herfindahl - Hirschman Index (HHI)?
You take each market share percentage for every firm in the industry and you square them and sum them up!

Competition & Regulation

What types of markets are there according to the HHI?
1. Unconcentrated markets (HHI below 1500). 2. Moderately concentrated markets (HHI between 1500 and 2500). 3. Highly concentrated markets (HHI above 2500).

Sign up for free to see all flashcards and summaries for Competition & Regulation at the Hochschule Rhein-Waal

Singup Image Singup Image
Wave

Other courses from your degree program

For your degree program Competition & Regulation at the Hochschule Rhein-Waal there are already many courses on StudySmarter, waiting for you to join them. Get access to flashcards, summaries, and much more.

Back to Hochschule Rhein-Waal overview page

Theories of International Relations

Microeconomics

Comparative politics

Domestic Policy

History of Economic Thought

Business Law

International Taxation

B05 - Function and Regulation at

Medizinische Universität Wien

Régulation Rp at

Université Claude Bernard (Lyon I)

Competitive&Organizational Strategy at

Universität Passau

transcriptional regulation at

LMU München

Entwicklung und Regulation 20/21 at

Universität Erfurt

Similar courses from other universities

Check out courses similar to Competition & Regulation at other universities

Back to Hochschule Rhein-Waal overview page

What is StudySmarter?

What is StudySmarter?

StudySmarter is an intelligent learning tool for students. With StudySmarter you can easily and efficiently create flashcards, summaries, mind maps, study plans and more. Create your own flashcards e.g. for Competition & Regulation at the Hochschule Rhein-Waal or access thousands of learning materials created by your fellow students. Whether at your own university or at other universities. Hundreds of thousands of students use StudySmarter to efficiently prepare for their exams. Available on the Web, Android & iOS. It’s completely free.

Awards

Best EdTech Startup in Europe

Awards
Awards

EUROPEAN YOUTH AWARD IN SMART LEARNING

Awards
Awards

BEST EDTECH STARTUP IN GERMANY

Awards
Awards

Best EdTech Startup in Europe

Awards
Awards

EUROPEAN YOUTH AWARD IN SMART LEARNING

Awards
Awards

BEST EDTECH STARTUP IN GERMANY

Awards
X

StudySmarter - The study app for students

StudySmarter

4.5 Stars 1100 Rating
Start now!
X

Good grades at university? No problem with StudySmarter!

89% of StudySmarter users achieve better grades at university.

50 Mio Flashcards & Summaries
Create your own content with Smart Tools
Individual Learning-Plan

Learn with over 1 million users on StudySmarter.

Already registered? Just go to Login