The Incarceration Of Prison Policy - 1418 Words

Generally, prison policy might lack saliency among most individuals. Prison policy seems to have that pattern where it is significant to some and not to others; that is also relevant in states because of their variety in issues. Prison legislation is like most legislation relevant to whom it affects. In this situation we see that prison overcrowding bothers a majority of inmates, some of the courts, and the states. Inmates do not vote, so it is understandable that congress lacks interest. In most involvement on prison overcrowding policy congressional action is close to absent, states are in charge of the legislation, but at times courts have intervened due to prison conditions. Gridlock is seen as a huge factor in policy outcomes. Congressional gridlock could be a factor; congressional gridlock can be looked at as important issues on their agenda that are left unspoken past the close of Congress. Other scholars think of gridlock as the lack of change in policy from the status quo (Saeki, 2009). A concept receiving attention in the American political environment in studies of gridlock is the polarization of the two parties’ policy preferences (Jones 2001). In Mayhew’s and Kelly’s numerator-based data, during divided government there is less salient legislation being produced. Although, legislative productivity between unified and divided government differ, it is not statistically significant. In regardless, Binder’s data on legislative agendas, specifically emphasizingShow MoreRelatedThe Incarceration Of Prison Policy913 Words   |  4 Pagesmore violence and causing mental deterioration. Some prisoners may even end up spending a n entire life sentence in solitary confinement, which defeats the purpose of rehabilitation. It is often viewed as a mere act of torture. 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The policies which were changed to get tougher on drug crimes on the federal level followed with mass incarceration in the prison system. This was especially true with young African American males in largely poor communities. So these policies not only created a mass incarceration but also racially targeted certain raceRead MoreMass Incarceration And Its Effects On The Unit ed States Essay1264 Words   |  6 PagesMass incarceration is a major problem in the United States. Since the tough on crime movement that began to emphasize more punishment and creating new policies such as; three strikes law, truth-in sentencing laws, mandatory sentencing, and determinate sentencing, our prisons and jails have become overcrowded. The three strikes law increases the prison sentence of an offender convicted of three felonies or serious crime. Usually the punishment ranges from a minimum of 25 years to life in prison. The

Early Settlers and Native Americans - 1038 Words

Early Settlers and Native Americans The entire clash of two different cultures dates back all the way into the beginning of the early European arrival. All the different countries in Europe were all trying to find there own place in the new world by claiming the land for their country. The English were among one of the first Europeans to arrive in the new world; and establish the first permanent settlement called Jamestown. The English later extended their settlements along the Atlantic coast, colonizing Plymouth and Massachusetts Bay. It was not very long after the English arrived, came the French to the new world. They too were searching to acquire land for themselves. These new settlements claimed by the French in the America’s where†¦show more content†¦The natives were impressed by all the new technology that was brought by them which then they traded among each other. These trades are the only thing that kept them in contact with one another. The Spanish on the other hand were the ones that maintained the important land and had to deal and make peace with natives. The Spanish came to the lower new world and face different natives and along the way became friends. The Spanish came to control all of the Florida parishes and all of Louisiana and the Mississippi River. All of the natives in these areas formed a treaty between theses two cultured groups. In Mississippi River Valley region shaped the means of production of these goods for the Spanish and also formed unique way of trade. The trade routes up and down the Mississippi came to be successful by running such goods; as deer skins, liquors, tools, and foods to develop a well marketplace over many years. Like all good trade routes, came fights and wars between the different countries and the natives. The Mississippi River was a very important aspect to the natives because it was their main source or trade with the Spanish during these times. Natives were known as the â€Å"middle men† between all of the countries in the new world for trade. All throughout the new world the Native Americans were treated poorly, because they were different from the Europeans. They were judged as savages with no social class and culture. Soon to come the Europeans were takingShow MoreRelatedConflict Between Native Americans And Early Euro American Settlers1527 Words   |  7 PagesClashes between the Native Americans and early Euro-American settlers were inevitable. These two groups of people were different in a number of ways ranging from language, culture, and spiritual way-of-life. Where we see these people groups ultimately at odds is in their beliefs relating to land. The Native Americans had settled in the land years before the arrival of the Euro-Americans. 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Arbitrage Monopolistic Market Structures -Myassignmenthelp.Com

Question: Discuss About The Arbitrage Monopolistic Market Structures? Answer: Introduction The report helps in analyzing the difference between the monopolistic competition and oligopoly. The two kinds of market will be discussed in the next sections with the help of different price theories. The different usage of theories and examples will be provided in such a manner that will help in analyzing the difference between the two theories. Perfect competition and monopolistic competition are operations to one another wherein for perfect competition, there are different markets in firms who sell identical products. On the other hand, monopolistic competition is defined as wherein there are no such kinds of close substitutes in the entire competitive market. The main aim of the report is to understand the differences between monopolistic competition and oligopoly market. The different theories will be used in such a manner that this will help in understanding the major differences in both the markets. The main purpose of the report is to understand the different examples along with articles related to the oligopoly and monopolistic competition. With the help of different models and diagrams, the analysis will be done, as this will be easier to understand the monopolistic and oligopoly market in short along with long run. The structure of the report is based on the introduction of the two concepts namely oligopoly and monopolistic market. The different theories will be discussed based on these markets, as this will provide clear view on both the markets. The total cost curve along with average along with marginal revenue and marginal cost has to be analyzed in an effective manner. Lastly, the conclusion has to be provided regarding the differences that have been analyzed between the monopolistic and oligopoly market (Head and Spencer 2017). The inefficiencies of both the markets have to be discussed in details with usage of theories and concepts. Definitions of Oligopoly and Monopolistic Competition Oligopoly is the structure of the market wherein there are only firms who dominate the entire market. When the entire market is shared between few firms, it is known as highly concentrated. This kind of market is wherein the small number of companies has major portion of shares in the entire market (Whisenant and Willenborg 2016). For instance- The operating systems of different computers and smart phones is the best example of oligopoly market wherein Google Android and Apple iOS are dominating the entire market, however the operating systems of the computer systems are overshadowed by Windows and Apple Definition of Monopolistic Competition Monopolistic Competition is defined as the theoretical concept wherein there is only market in the entire competitive market (Neary 2016). This is opposite of the perfect competition as in monopolistic competition, there is only one firm who provides and offer products to the customers and is dominant in nature as well (Spanjers 2017). However, on the other hand perfect competition is wherein there is large number of firms who are operating in the market. For instance- Nike is a monopolistic competition wherein the features and aspects are of perfect competition. However, the products are not likely the same as their competitors in the market such as Under Armour and Adidas Monopolistic Competition and Oligopoly Market The main fundamental difference between the Oligopoly market and Monopolistic competition are the size and number of firms in the entire market place. These different characteristics help in determining impact of the pricing decisions of the single firm (Dewenter, Heimeshoff and Lth 2017). The monopolistic competition is apt and is found mostly in retailing and distributing market wherein the market is divided into small segments wherein there is no such suffering of diseconomies of scale. However, oligopoly market is found wherein economies of scale require that the entire market can be supplied with the large firms that are few in nature. This kind of situation is found mostly in international banking and insurance sector (Taylor and Wagman 2014). Furthermore, it can be analyzed that both oligopoly and monopolistic market have different group of products that are having different close substitutes, however there are differences in the eyes of the buyers in the market. It can be seen that both oligopoly and monopolistic competition is perfect in nature rather than impersonal in nature (Schweinberger and Suedekum 2015). Each of the sellers is aware acutely of the competitors in the market and trying to gain competitive advantage (Kufel-Gajda 2017). In the above figure, it can be analyzed that d1d1 is the original short run demand curve and d2d2 is the demand curve after the long run adjustment. Marginal Revenue is the original curve of marginal curve (Haaland and Venables 2016). As shown in the figure, the organization can earn excess amount of profit in the short run with output Q1 and price is P1. In the long run, the existence of the level of high profit is such that it is providing signals to other firms to enter into the market (Fujiwara and Teranishi 2017). While seller of Tacos can differentiate marginally his Taco from other competitors in the market, the absence of the different barriers to the entry that means that, the potential competitors will help in emulating the success along with reducing the power of pricing (Sumner 2018). From the diagram, it can be analyzed that monopolistic competition has three main characteristics such as: There are different kind of buyers and sellers The sellers offer products that is differentiated in nature Easy entry and exit of the entire market is easy in nature It helps in relaxing the homogeneity of the product and the aspect of the monopolistic approach is wherein the two products are not the same. The competitors who are monopolistic in nature faces curve that is downward sloping in nature. The monopolistic markets can sell more products at low prices than the competitors in the market can earn (Gugler and Szcs 2016). Monopolistic competition in SR The demand curve that is faced by monopolistic competition is same like the monopoly market that is downward sloping in nature. Furthermore, MRP, the goal will be to set MR=MC to maximize the profit. Furthermore, it can be seen that monopolistic competitor raises their price; there are different options for the customers in the market to buy the similar kind of products in the market but not the identical products elsewhere. The demand curve that is faced by the monopolistic market is more elastic in nature than the monopolists are. In SR, the firm can make accounting profit or economic loss (Larivire, Haustein and Mongeon 2015). Monopolistic competition in LR In the LR, the profit helps in attracting the entry in such a manner that it shifts the demand curve of the firm to the left along with MR curve. Entry will take place until P=ATC wherein it will occur till the demand curve becomes tangent to the ATC (Average Total Cost Curve) From the above diagram, it can be analyzed that monopolistic competition is socially desirable structure of the market as the power of monopoly is smaller in nature. As the brands are substitutable in nature, this means that all the companies will face elastic demand curve as average total cost curve is minimum in nature. The customers in the entire competitive market value the diversity of the product. Oligopoly Market The figure helps in analyzing along with describing situation of the interdependence in such a manner that individual kind of oligopolist face the kinked kind of demand curve. In the figure, it is numbered as DAB and this will be unable for them to depart from current price P3. When the oligopolist in the market increases the price, they fear that the sales will fall in a manner. However, if he lowers the price to P3 in a unilateral manner, everyone will match the price and this can be worst situation. The kinked demand curve will help in describing equilibrium situation that is static in nature and there will be no such change in the price. In the oligopoly market, the nature of products is similar in nature and the curve of the price is price elastic in nature. The demand curve is affected directly with the help of competition. In oligopoly market, the decisions of pricing is based on strategic pricing and the relation between P and MC is PMC. There is huge possibility of profit in the end in the entire oligopoly market. The main characteristics of the oligopoly market are wherein there is huge interdependence of the different firms in the process of decision-making. The different firms in the oligopoly market is inter dependent closely on one another. The other feature of oligopoly market is there is lack of uniformity in the size of the different firms. This kind of situation is known as asymmetrical and this is common in economy of America wherein the uniform size is rare in nature. In the oligopoly market, the oligopolist marketers have to stick to the price and this will lead to price war situation in the entire competitive market. There are different forms of oligopoly that includes the following: Open Oligopoly is wherein the firms are free to enter the market without much difficulties Closed Oligopoly is wherein there are different kind of restrictions that has to faced in the market Perfect Oligopoly is wherein the different kind of products are identical in nature Imperfect Oligopoly is wherein the different firms in the market sell different kind of products Competitive Oligopoly is when there is no such cooperation between the different firms and they are competitive in nature Theories on Monopolistic Competition and Oligopoly Market There are differences between the Monopolistic Competition and Oligopoly market wherein the general theory on pricing helps in postulating the market conditions spectrum. This ranges from perfect kind of competition at one extreme and monopolistic at other hand. Furthermore, according to Bertoletti and Etro (2017), large number of market structure that is theoretical is possible in nature. The different theories help in understanding the different issues in the management in an effective manner. The nature of the products will be explained in such a manner that it helps in understanding the different demand curve theories along with collusion in the market. Kinked demand curve theory of Oligopoly Market The kinked demand curve theory in the oligopolistic market was developed in the year 1939 that helped in explaining the different characteristics related to rigid price and when there is increase in the cost (Snow 2015). This respective theory has different implications that include that when the demand curve becomes less elastic in nature when there is fall in the prices; however, the demand curve that is oligopolistic in nature becomes less elastic in nature at the kink. Furthermore, it causes mathematically wherein it causes sudden change in the MR curve to different positions. From the diagram, it can be analyzed that there can be increase or decrease in the MC curve between the discontinuity. In such a situation, the oligopolist will reduce the costs and absorb the higher costs as shown in figure 4. There are different criticisms on the theory that includes there is perceiveness of the oligopolist to create a kink in the market. It has been seen that any kind of stability that is perceived in nature in the oligopoly market is not due to the kinked demand curve, but there can be different other reasons as well. Market Structure theory of Monopolistic Market The competitive market in the monopolistic market makes decisions that are independent in nature about the output and price. In the short run, the profits that is supernormal in nature is possible, however in the long run, there are new firms in the industry that are been attracted. On the other hand, the profits that is super normal in nature attract the new entrants that helps in shifting the demand curve for the different firms that is existing in nature that can be seen in the diagram. Furthermore, there is tendency of excess capacity as the different firms never exploit the different fixed factors, as there is difficulty in the mass production. This helps in understanding that they are productively inefficient in nature both in short and long run. The theory on monopolistic competition by Edward Chamberlin has helped in analyzing that there are different number of consumers and producers in the market and there is no such total control over the price of the market. It has been seen that there are different number of barriers to both exit and entry of the firm. As the model of economic competition, the monopolistic competition is realistic in nature than the perfect kind of competition (Parenti, Ushchev and Thisse 2017). Monopolistic Competition The different coffee shops, furniture companies, hotels, gas stations and automotive service organizations are the best examples of the monopolistic competition. There are companies, who offer similar products to the customers in the market, but they are not identical in nature and they are known as they have entered into the monopolistic competition. Oligopolistic Competition There are different segments in the oligopolistic competition wherein there are few companies or one company that is offering such kind of products and services. Smartphones HTC Apple Samsung Nokia Video Streaming Amazon Starz Showtime Netflix Airlines Virgin America JetBlue United Airlines Delta Airlines From the different examples of various sectors, it can be analyzed that oligopolistic competition is wherein there are only one company who is providing their target customers with the different services that cannot be provided by others. The oligopolistic markets generate huge revenues and sales in the entire market. The oligopolistic organizations are known as cats in a bag as it refers to the different companies who are targeting the entire market in an effective manner. Core differences between Oligopoly and Monopolistic Competition Particulars Monopolistic Competition Oligopoly Market Number of firms There is several numbers of firms in the entire competitive market. However, the products that will be provided by the companies can be similar in nature and they are not identical in nature There are only few similar firms in the entire competitive market. The different kind of products and services are delivered to the customers by the single firm in the entire effective market Demand Curve implications The demand curve is downward sloping in nature and it is elastic in nature (Acemoglu, Kakhbod and Ozdaglar 2017) The demand curve is downward sloping in nature and is inelastic in nature. The game theory and kinked demand curve theory are the theories that will help in understanding the differences in an effective manner Intervention of government The entry to the firms can be blocked by the different regulations of the government The collusions are illegal in nature and there are different penalties included in it as well. Possible demand of consumers The firms have the ability in order to control the price wherein competitive goods are close substitutes (Choudhary et al. 2015) The competition is non price (-) consumers determine the requirement to buy and this results in making the firm successful in nature (Bloch and Bhattacharya 2014) Possibility of profit making Marginal Revenue = Marginal Cost wherein there is no such economic profit in the monopolistic competitive market Marginal Revenue=Marginal Cost (Collusion and Cartel) Average size of organizations There are different small firms that are competitive in an extreme manner and there is small degree of control on market (Assenza et al. 2015) The size of the organizations is large in size along with the dominating nature in the entire market (Rancan 2015) Nature of the product The products are differentiated in nature as there are no similar products in the monopolistic competition The products are either differentiated or uniform in nature in the oligopolistic competition Freedom of Entry There is free and open access in the freedom of entry in monopolistic competition (Bertoletti and Epifani 2014) The freedom of entry has controlled access in the entire oligopoly market From the above table, it can be analyzed that there are differences in both oligopoly and monopolistic competition. The differences help in understanding the issues that can be faced by both the markets in different manner in the future. The control over the prices has been discussed in such a manner that this helped in understanding the issues in an effective manner. Conclusion Therefore, it can be concluded that oligopoly market is the structure of the market that helped in containing number of firms that is relatively large or small in nature. It has been seen that in the monopolistic competition, the different kind of firms are independent in the different decisions and outputs along with cost of production. The monopolistic markets are similar to the perfect competition wherein there are large numbers of firms competing with one another. The difference lies between the competition natures wherein the firms sell identical products in such a manner that this has helped them in competing with the price. On the other hand, oligopoly market is wherein it acts like monopoly market and there are few firms in the entire competitive market. The firms those are oligopolistic in nature help themselves in understanding along with recognizing the strength and values of the firms in an effective manner. There are different policymakers in the entire market wherein they have regulated the behavior of different oligopolist in the entire market. It has been seen that scope of these kinds of laws is subject of the ongoing fixation of the prices in the entire market. It has been seen that structure of the market is essential in nature in both marketing along with economics. These kinds of market structures helped in representing the different impact on the different kind of markets in the entire competitive market. The different other aspects such as number of sellers, difference between products and ability in order to set the price is essential in nature. The conclusion even helped in understanding the different kind of competition in different structure of market as this helped in understanding the similarities and differences in the entire market. The differentiated products in the monopolistic competition are the major difference in comparison to the oligopoly market. References Acemoglu, D., Kakhbod, A. and Ozdaglar, A., 2017. Competition in Electricity Markets with Renewable Energy Sources.Energy Journal,38. Assenza, T., Grazzini, J., Hommes, C. and Massaro, D., 2015. PQ strategies in monopolistic competition: Some insights from the lab.Journal of Economic Dynamics and Control,50, pp.62-77. Bertoletti, P. and Epifani, P., 2014. Monopolistic competition: CES redux?.Journal of International Economics,93(2), pp.227-238. Bertoletti, P. and Etro, F., 2017. Monopolistic competition when income matters.The Economic Journal,127(603), pp.1217-1243. Bertoletti, P. and Etro, F., 2017. Monopolistic competition when income matters.The Economic Journal,127(603), pp.1217-1243. Bloch, H. and Bhattacharya, M., 2014. Price Theory and Oligopoly.2014, pp.1914-2010. Choudhary, A., Suman, R., Dixit, V., Tiwari, M.K., Fernandes, K.J. and Chang, P.C., 2015. An optimization model for a monopolistic firm serving an environmentally conscious market: Use of chemical reaction optimization algorithm.International Journal of Production Economics,164, pp.409-420. Dewenter, R., Heimeshoff, U. and Lth, H., 2017. The impact of the market transparency unit for fuels on gasoline prices in Germany.Applied Economics Letters,24(5), pp.302-305. Fujiwara, I. and Teranishi, Y., 2017. Financial frictions and policy cooperation: A case with monopolistic banking and staggered loan contracts.Journal of International Economics,104, pp.19-43. Gugler, K. and Szcs, F., 2016. Merger externalities in oligopolistic markets.International Journal of Industrial Organization,47, pp.230-254. Haaland, J.I. and Venables, A.J., 2016. Optimal trade policy with monopolistic competition and heterogeneous firms.Journal of International Economics,102, pp.85-95. Head, K. and Spencer, B.J., 2017. Oligopoly in international trade: Rise, fall and resurgence.Canadian Journal of Economics/Revue canadienne d'conomique,50(5), pp.1414-1444. Kufel-Gajda, J., 2017. Monopolistic markups in the Polish food sector.Equilibrium. Quarterly Journal of Economics and Economic Policy,12(1), pp.147-170. Kumar, S. and Chatterjee, A.K., 2015. A profit maximising product line optimisation model under monopolistic competition.International Journal of Production Research,53(5), pp.1584-1595. Larivire, V., Haustein, S. and Mongeon, P., 2015. The oligopoly of academic publishers in the digital era.PloS one,10(6), p.e0127502. Neary, J.P., 2016. International trade in general oligopolistic equilibrium.Review of International Economics,24(4), pp.669-698. Parenti, M., Ushchev, P. and Thisse, J.F., 2017. Toward a theory of monopolistic competition.Journal of Economics Theory,167, pp.86-115. Rancan, A., 2015. The Origin of the Sylos Postulate: Modiglianis and Sylos Labinis Contributions to Oligopoly Theory. Journal of the History of Economic Thought, 37(3), pp.431-448. Schweinberger, A.G. and Suedekum, J., 2015. De-industrialization and entrepreneurship under monopolistic competition.Oxford Economic Papers,67(4), pp.1174-1185. Snow, A., 2015. Monopolistic Insurance and the Value of Information.Risks,3(3), pp.277-289. Spanjers, W., 2017.Arbitrage and monopolistic market structures(No. 226). Center for Mathematical Economics, Bielefeld University. Sumner, G., 2018. Monopolistic Competition? The Rise of Brand-Chain Competition and Unresolved Social Questions.Advances in Social Sciences Research Journal,5(1). Taylor, C. and Wagman, L., 2014. Consumer privacy in oligopolistic markets: Winners, losers, and welfare.International Journal of Industrial Organization,34, pp.80-84. Whisenant, S. and Willenborg, M., 2016. Price Competition Within the Large Audit Firm Oligopoly: A Panel Data Analysis of Initial Engagements.

What I Learned In Psychology Class Essay Example For Students

What I Learned In Psychology Class Essay Robert Tower, PresidentThe Tower Mart Inc. 25 Glen Blvd. Arlington Heights, ILDear Bob:Thanks for meeting with me again last week. I continue to be interested in purchasing the assets of Tower Mart, Inc. If we reach an agreement regarding my purchase, I plan to transfer these assets to a new corporation that I am forming. My new company would then run a convenience store similar to what you are currently operating. I am interested in purchasing the following assets: the inventory, fixtures, equipment, leasehold improvements, and business name. In addition, I will need all necessary licenses and permits transferred to me. I will expect you to give me a covenant not to compete stating that for three years, you will not open a similar store in our city. The purchase price for all of the assets as well as the good will and your covenant not to compete would be $150,000, as we have already discussed. As an indication of my good faith in pursuing this matter, I am enclosing a check for $1,000 as earnest money. I would pay an additional $49,000 in cash at closing. The balance of $100,000 would be amortized in equal monthly installments over a period of 10 years with interest at the rate of 10% per annum. Regarding the inventory, we will check this at the time of closing. If the inventory is valued at less than $45,000, the purchase price would be reduced accordingly. Also, as we already discussed, your corporation would remain responsible for all liabilities of the present business and these would not be assumed by my new corporation. Before I have my lawyer draft a sales agreement, there are some things I need to investigate:1.I want to meet with your landlord to make sure that I can take over the existing lease and that I can get an option to extend it for another five years. 2.I need to have my accountant review all of your tax returns and business records for the past five years so that I can satisfy myself regarding the financial condition of your business. 3.I want to make sure that the state liquor board will approve a transfer of the beer and wine retail license to my new corporation. Assuming that I am satisfied with these items and all other aspects of the proposed purchase, I will have my lawyer draft a sales agreement and then we can close approximately 45 days from now. This letter states my intent but it is not a legally binding contract or commitment on either my part or yours. Upon further investigation I may change my mind. If the deal does not go through for any reason, I would be entitled to my earnest money back. If my letter has captured the essence of what we talked about and you are still interested in pursuing the sale, please let me know. I believe that we are moving toward a transaction that can be advantageous to both of us. Sincerely,