Can you please give me short 5 intelligent questions about this topic to ask to
ID: 1116496 • Letter: C
Question
Can you please give me short 5 intelligent questions about this topic to ask to the presenter?
Oligopoly and Market Concentration
Meaning and Sources
Oligopoly- The form of market organization in which there are few sellers of
a homogeneous or differentiated product and entry into or exit from the
industry is difficult
Example: Apple IOS & Android By Google
Meaning and Sources Cont.
Duopoly- An oligopoly of two firms.
Example: Mastercard & Visa
Pure Oligopoly- An oligopoly in which the products of the firms in the
industry are homogeneous
Example: Cement, Steel, and Aluminum which are the closest to a Pure
Oligopoly
Meaning and Sources Cont.
Differentiated Oligopoly- Similar products produced by a few
manufactures within an industry. Each manufacturers attempts to make
their product slightly different in order to charge consumers higher prices.
Example: Coke Cola and Pepsi
Meaning and Sources Cont.
Non-price Competition- Competition based on product
variation, advertising, and service rather than on price.
Example: Here Audi and BMW are doing advertising in
order to compete and I thought this was funny.
Meaning and Sources Cont.
Limit Pricing- The charging of lower than the profit maximizing price by a
Explanation / Answer
How will be the profits among the firms present in the oliopoly? Will market share determine the dminance in the case of oligopoly and market concentration? Is the oligopoly same as the cartel followe by oil companies? Is there any possibility or oligopoly based industry to turn into monopoly? Can you help me understood with the aid of supply anddemand curves?