Essays on Oligopoly

The Problem of Price Regulation in Oligopolistic Markets
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​The main problem of the Oligopoly issue, is that there is only recognition of the market being taken over by a few large firms that are working together to dominate an entire industry. ​When an industry is taken over by a few large firms and has only few sellers, it is called an Oligopoly. These come about when the larger firms change their prices, quantities, and/or qualities of their product and the other larger firms react to those changes. These…...
EconomyOligopolyPrice
The Oligopoly Market: Characteristics and Features
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OM is also the main market in structures. These kind of market very rare to find because info and data not available and it’s really hard to find. It actually need a huge amount of capital to start a new business. Therefore whoever enter to this kind of markets earning huge amount of profits and their products and competition really high. It drives them for innovation. Because of that they are having power to set a price for their products.…...
EconomyOligopolyPrice
Spectrum Sharing In Cognitive Radio Networks Computer Science Essay
Words • 2736
Pages • 11
Abstract-Cognitive wireless is a new engineering for bettering frequence spectrum use in radio webs. A polar issue in cognitive wireless is spectrum sharing, which allows primary ( licensed ) users to portion their accredited wireless frequence spectrum with secondary ( unaccredited ) users. In this paper, we will pattern the cognitive wireless environment as a quality based competition. We consider the spectrum sharing job between multiple primary users and merely one secondary user. The freshness of this paper is that…...
CompetitionComputer Science For ProgressElectronicsGame TheoryNetworkOligopoly
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Smartphone market share in Australia
Words • 2101
Pages • 9
Subject: Smartphone market portion in Australia1.0Contentss2.0 Executive Summary………………………………….pg.33.0 Purposes:3.1 Research Methodology……………………..….… ... pg.43.2 Summary of Results of the Research……… ... …pg.5,63.3 Market Structure of the Industry……………………pg.73.4 Analysis of Competition Within the Industry….pg.7,8,94.0 Resource allotment in the industry………..……..pg.10 5.0 Conclusion……………………………….………….pg.116.0 Appendices…………………………………..…..pg.12,137.0 Reference list………………………………………..pg.14Executive SummaryThe subject our group has chosen is the market of smartphones in Australia. The five smartphone trade names this study will analyze are Apple, Android, Windows Phone and Blackberry. A study was held and information was gathered online.…...
CompetitionDemandOligopolyPerfect CompetitionPhone
Glaxo Smithkline Company
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Pages • 6
Table of Contents  Introduction Objectives Overview of the Organization Market Share and Competition in the industry Market Share Portfolio Competition Industry Market Structure Conclusion References Introduction Objectives This assignment was prepared to understand and present an overview of GlaxoSmithKline (GSK), in the pharmaceutical industry and its competition against its distributors in Sri Lanka and also its market structure in view of its market structure at present in the industry. Overview of the Organization GlaxoSmithKline, with operations worldwide is an acclaimed…...
CompanyMonopolyOligopolyPharmaceutical Industry
Fuel market in South Africa
Words • 2235
Pages • 9
ContentssQUESTION 2 – Microeconomic theory and market constructionThe Cost of CrudeFuel Market in SAQUESTION 3 – Theoretical AnalysisChange in measure to demanded as a consequence of dropping fuel monetary valuesChange in DemandRelationship between fuel costs and other retail goodsThe impact of fuel monetary values on retail industry - ShopriteQuestion 4 – Restrictions and practical considerationsBibliographyQUESTION 2 – Microeconomic theory and market constructionIn the long term, the greatest individual factor act uponing crude oil monetary values is the cost of rough…...
AfricaEconomicsOligopoly
Indonesia’s Textile Industry
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Indonesia is an island country, with more than seventeen thousand islands. Its population in 2014 was 253 million people. Its labor force was 120 million people, where 38.9% of it is in Agricultural Sector, 13.2% of it in Industrial Sector, and 47.9% of it in Services Sector. The Gross Domestic Product (GDP) in 2013 was $867,500 million, growing 5.3% from 2012. Textile Industry Overview Indonesia is ranked among the top ten largest textile producing countries. From long time ago, the…...
CompetitionIndustryMonopolyOligopolyPerfect Competition
Economic Analysis of German Economy
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ECONOMIC ANALYSIS Economic analysis involves assessing or examining topics or issues. Economic analysis is the study of economic systems. It may also be a study of a production process or an industry. Aim of the analysis is to determine how effectively the economy or something when it is operating. Economic Growth Economic growth is the ability of nations to produce greater amount of goods and services in a certain period of time, usually one year. Strong economic growth reflects rich…...
CompetitionEconomicsMonopolyOligopoly
Economic Analysis of Oligopoly
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This has been extended and they are now looking to expand their hold on the Australian market by moving into the liquor industry. Julian Lee (2008) highlights Coles and Woolworths move into the industry, by trying to build on their previous acquisitions of liquor outlets to challenge the major brands for a share of the $6 billion per year Australian beer market. The article reveals that Coles and Woolworths plan to ‘give more space to their own beers and promote…...
BusinessEconomicsOligopoly
Economics and Boeing
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The market structure for the Dreamliner is that of an oligopolistic nature which means there are few air Premium1632 Words7 Pages Boeing Summary Buying an airplane is huge purchase, each costing over $ 100 million. There are many factors that have to be considered by the customers. These are customers Boeing deals with every day. For such purchases, Boeing knows that it take more than fast talk and a firm handshake. Individual salesDreamliner 787 case study Tara Lentini Week 3…...
DemandEconomicsOligopoly
Monopoly, perfect competition and imperfect competition
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Pages • 18
? Economic experts assume that there are a number of various purchasers and sellers in the marketplace. This indicates that we have competition in the market, which enables price to change in reaction to changes in supply and demand. Moreover, for nearly every product there are alternatives, so if one item ends up being too expensive, a buyer can pick a more affordable substitute rather. In a market with many purchasers and sellers, both the consumer and the supplier have…...
CompetitionMonopolyOligopolyPerfect Competition
Similarities and differences between monopolies and oligopolies
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Pages • 2
According to Mankiw, N. G. (2004) monopolies and oligopolies can be defined as: Monopolies are based on a market where there are several buyers but only one seller of a product or service whereby the seller sets the price for products and services provided. Oligopolies are based on a market where there a few companies own or control the production of a product or service whereby the few companies control the market of products and services provided. Differences: Monopolies have…...
CompetitionEconomicsMonopolyOligopolySociety
Perfect competition, imperfect competition
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There are basically two types of market situation: (a)Perfect competition – in this market, firms have no influence; they are price takers. (b)Imperfect competition – this market includes monopoly, oligopoly and monopolistic competition; firms are price makers and can influence the market place. Every firm must obey three rules in order to survive: •To maximise profits, firms will produce at that output where MC=MR and at the same time MC must be rising. •A firm will continue to produce in…...
CompetitionMonopolyOligopolyPerfect Competition
Monopoly vs. Oligopoly
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Monopolies and Oligopolies are both marketing situations that are present in today’s economic system. Many people are aware of what a monopoly is and the federal government has even taken steps to make monopolies in the United States illegal. However many are unaware of the many oligopolies operating in the US economic system today. Monopolies and Oligopolies are similar but not the same, this paper will explore their similarities and differences, and provide examples of both operating in today’s economic…...
MonopolyOligopoly
Oligopoly versus monopoly competition
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Differences Between Oligopoly and Monopolistic Competition Market Structures Market structure refers to the interconnected characteristics of a market, which include the number of firms, level and forms of competition and extent of product differentiation (Business Dictionary, 2012). Based on these parameters, several market structures are defined and this essay will focus on two of them, namely monopolistic competition and oligopolistic markets, by discussing the differences among them and their impact on the customers. Oligopolistic market is defined as a market…...
CompetitionEconomyMonopolyOligopoly
Monopoly is a market structure
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A monopoly is a market structure where there is merely one manufacturer/supplier for a product. The lone business is the industry. Entrance into such a market is controlled based on elevated costs or additional obstacles, which may be, political social or economic. In an oligopoly, there are simply a limited number of firms that create an industry. This top quality assemblage of firms has control over the price in addition to a, monopoly; an oligopoly also has extraordinary obstacles to…...
MonopolyOligopolyPerfect CompetitionStructure
Monopoly for the Potato chip industry
Words • 1471
Pages • 6
A monopoly is a company that provides a product or service for which there are no close replacements and in which significant barriers of entry can either prevent or hinder a new company from providing competition (Case, et al. , 2009). Take into consideration the potato chip industry in the Northwest are not only competitively structured but are in long-run equilibriums. The firms were earning a normal rate of returns and were competing in a monopolistically competitive market structure. In…...
IndustryMonopolyOligopolyPerfect Competition
Effects of monopolies in the Usa economy
Words • 2176
Pages • 9
The concept of a monopoly is largely misunderstood and the mere mention of the term evokes lots of emotions that make clear judgment almost impossible. The standard economic and social case for or against monopolistic businesses is no longer straightforward. According to Mankiw (2009) a monopoly is defined as a market structure characterized by a single seller of a unique product with no close substitutes[1]. When a business dominates a market, it becomes a monopoly by virtue of its power.…...
CompetitionMicroeconomicsMonopolyOligopolyUsa
Oligopoly: monopoly and firms
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1) Small number of sellers:- There is a small number of sellers under oligopoly. Conceptually, however, the number of sellers is so small and the market share of each firm is so large that a single firm can influence the market price and business strategy of the rival firms Interdependence of . 2) Decision making :- The competition between the firms takes the form of action, reaction, and counteraction between them. Since the number of firms in the industry is…...
EconomyMonopolyOligopoly
Monopoly and olygopoly
Words • 3668
Pages • 15
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity (this contrasts with amonopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly which consists of a few entities dominating an industry) Monopolies are thus characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods. The verb "monopolize" refers to the process by…...
EconomicsGlobalizationMonopolyOligopoly
Monopoly and price
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Pages • 5
1. Figure 13-7 shows that by selling 200 pictures the firm will A. break even. B. incur a loss. C. have no fixed costs. D. earn a profit. E. have no variable costs. 2. According to Figure 13-7, how much profit will the firm make if it sells 400 pictures? A. $32,000 B. $35,000 C. $48,000 D. $0 E. $20,000 3. Figure 13-7 shows that by selling 800 pictures the firm will A. earn a profit. B. have no variable…...
DemandMonopolyOligopolyPrice
Oligopoly and Monopoly
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An oligopoly is an intermediate market structure between the extremes of perfect competition and monopoly. Oligopoly firms might compete (noncooperative oligopoly) or cooperate (cooperative oligopoly) in the marketplace. Whereas firms in an oligopoly are price makers, their control over the price is determined by the level of coordination among them. The distinguishing characteristic of an oligopoly is that there are a few mutually interdependent firms that produce either identical products (homogeneous oligopoly) or heterogeneous products (differentiated oligopoly). Mutual interdependence means…...
EconomicsMonopolyOligopoly
Competition Intensifies
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Every firm’s marketers must develop an effective strategy for dealing with the competitive environment. A company may position its product or service with an eye towards its ability to sustain that position (Hooley and Greenley, 2005). The most direct competition occurs among marketers of similar products. The indirect competition involves products that can be easily substituted. One company may compete in a broad range of markets in many areas of the world. Another company may specialize in a particular market…...
CompetitionEconomyOligopoly
Pepsi & Coke: Related to Game Theory
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In May, 1886, Coca Cola was introduced by John Pemberton a pharmacist from Atlanta, Georgia. John Pemberton started brewing his coca cola formula in a three legged brass kettle in his backyard. Pharmacists Caleb Bradham in New Bern, North Carolina first made competitor Pepsi in the 1890’s. The brand was trademarked on June 16, 1903. These companies have brand identification and customer loyalties that have made them a historical landmark. Today Pepsi and Coke control around 90% of the soft…...
DemandGame TheoryMarketingOligopolyPepsi
The Stackelberg Leadership Model
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Introduction An oligopoly refers to the economic situation where there are several firms in the industry making a product whose price depends on the quantity (Examples can include large firms in computer, chemicals, automobile…) Cournot was the first economist to explore and explain the oligopolistic competition between the two firms in an oligopolu (Cournot and Fisher in 1897). He underlined the idea of duopoly problem and the non-cooperative behavior of the firms. In 1934, Heinrich F. von Stackelberg came up…...
BusinessEconomicsLeadershipOligopoly
Marketing and Theoretical Framework of FDI
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Pages • 8
Foreign direct investment has increasingly been identified as a major growth-enhancing component in most developing countries. FDI promotes economic growth in the host country in a great number of ways. From a more compressed perspective, these effects of foreign investment could be direct through a certain investment source or indirect through certain spillover effects. In a more broad view however, FDI could be said to put pressure on the firms in their host countries to improve their competitiveness leading them…...
DemandInvestmentMarketingOligopolyPerfect Competition
The 4 Types of Market Structure
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Definition There is a single seller and large numbers of buyers that sell products that have no close substitutes. The entry and exit barriers are also high. Characteristics No close substitutes – Monopolies firm would sell products in which there are no close substitutes. Restriction of entry of new firms. Advertising: Advertising in a monopoly market depends on the products sold. Advantages and disadvantages: Monopoly Advantages Stability of price In a monopoly market the prices are most of the times…...
MonopolyOligopolyPerfect CompetitionStructure
Tax Incident
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Government generally collect taxes to generate revenue and question arise here is that after imposition of taxation, which group will bear the tax burden. After implementation of tax, there would be the division of tax burden between byres and sellers which is known as tax incidence. Tax incidence is linked to the price elasticity of demand and supply. If supply is more elastic than demand then the tax burden falls upon the buyers and when the demand is more elastic…...
DemandOligopolyTaxTaxationUnemployment
Oligopoly in India
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Pages • 8
A market structure dominated by a small number of large firms, selling either identical or differentiated products, and significant barriers to entry into the industry. This is one of four basic market structures. The other three are perfect competition, monopoly, and monopolistic competition. The three most important characteristics of oligopoly are: 1. An industry dominated by a small number of large firms 2. Firms sell either identical or differentiated products 3. The industry has significant barriers to entry. PRICING The…...
CompetitionIndiaMonopolyOligopoly
Conditions and Consequences of a Price War
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The goal of this essay is to "use economic theory and illustrative examples to detail the situations under which a rate war could come about and the most likely effects for the participating firms and their consumers". A price war is a period in which several firms contending within the same market will respond to the other firms lowering of rate by decreasing their own price. They have short-term and long-term benefits and disadvantages. There are numerous factors for which…...
CompetitionOligopolyPrice
The Big 6 Media Conglomerates
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The holdings of the Big 6 Giants clearly prove that the media industry is dominated by a few firms in oligopoly. I am sure that most people are unaware of the fact that only a few conglomerates dominate mainstream media. Nonetheless, it is clearly true—the nine current media conglomerates together own more than 90% of the media market. In determining how oligopoly in the media industry affects the messages that people receive, its necessary not only to look at the…...
CultureMediaOligopoly
Imperfect Competition
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Pages • 3
In a perfectly competitive market-- a market in which there is many buyers and sellers, none of whom represents a large part of the market-- companies are rate takers. That is, they are sellers of products who believe they can sell as much as they like at the current price however can not influence the rate they receive for their item. For instance, a wheat farmer can offer as much wheat as she likes without worrying that if she attempts…...
CompetitionMonopolyOligopolyPriceWheat
The degree of operating leverage
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1. The degree of operating leverage is equal to the ____ change in ____ divided by the ____ change in ____. 2. In the linear breakeven model, the difference between selling price per unit and variable cost per unit is referred to as: 3). Break-even analysis usually assumes all of the following except: 4).The short-run cost function is: 5). In the short-run for a purely competitive market, a manufacturer will stop production when: 6). In the long-run, firms in a…...
EconomicsMonopolyOligopoly
Differientiating Between Market Structures
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Pages • 5
The airline industry is a competitive market in society today. It is a perfect example of an oligopoly market structure because it is highly concentrated. There are many large players within the industry but only a few that determine the market prices like JetBlue. According to "CNN Travel" (2013) "For the ninth consecutive year, JetBlue Airways ranked first for satisfaction among all North American airlines.” JetBlue is one of the leading organizations in the airline industry. The organization keeps the…...
DemandMonopolyOligopolyStructure
How market structures determine the pricing and output decisions of businesses?
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Pages • 6
3.1 Explain how market structures determine the pricing and output decisions of businesses There are different kinds of markets in different economies/sectors/goods. Accordingly, there are different kinds of output and pricing decisions which take place. Usually, output and pricing decisions are interdependent except for the case of perfectly competitive markets. In perfectly competitive markets, a single firm is so small compared to the market that it cannot affect the prices. In that case, it must take the price as given,…...
BusinessDecisionsDemandMonopolyOligopolyPerfect Competition
OPEC CARTEL
Words • 3262
Pages • 14
"OPEC. As a. CARTEL". There are 2 sort of extreme market structure and they are best competitors and imperfect competition. In a completely competitive market there are numerous varieties of sellers and many numbers of buyers offering and buying uniform products, for that reason there is very little impact of a single buyer or seller changing the price of his/her item. In an imperfect competitive market there are couple of sellers and these sellers have some control over the rates…...
CarMicroeconomicsOligopoly
Edgar’s Analysis of Macroeconomic Issues
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Pages • 5
Intro The concept Edgar has for opening up four brand-new gasoline station is based upon a well based argument making it practical as a rewarding organisation endeavor. The assessment on the American customer to accept the high price for gas oil costs forms the first approach towards establishing a company. Gasoil services worldwide run as cartel where it supply and rates are determined by the few stakeholders in the market. The stakeholders form an agreement among their competitors on the…...
DemandFinanceMacroeconomyOligopoly
Market Structures and Pricing Strategies in Business
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Pages • 6
In Economics, market structures are broken down into 4 primary structure types Perfect Competition, Monopolistic Competitors, Oligopoly and Monopoly. This paper will elaborate on how they are broken down by variables, such as how many buyers and sellers, expense and direct competitors. The rate for the consumer is affected under these structure types and this paper will explain the 4 different types and how the consumer cost is affected. After each of the four structures is broken down, I will…...
BusinessMonopolyOligopolyPerfect Competition
Perfect Competition Examples
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Market structure is best defined as the organizational and other characteristics of a market. We focus on those characteristics which affect the nature of competition and pricing.Traditionally, the most important features of market structure are: 1. Number of Buyers and Sellers: Number of buyers and sellers of a commodity in the market indicates the influence exercised by them on the price of the commodity. In case of large number of buyers and sellers, an individual buyer or seller is not…...
CompetitionMonopolyOligopolyPerfect Competition
Whirlpool Internal and External Analysis
Words • 4148
Pages • 17
WHO/WHAT IS WHIRLPOOL? There are big time players in every industry that people link with the market. Fast food is McDonalds. Coffee shops Starbucks. Carbonated beverages are Coca-Cola. Who is the comparable brand name in the home appliance field? A betting man would have a safe bet if he wagered that Whirlpool was that company. Whirlpool Corporation is the world’s leader in manufacturing major home appliances. With sales in the billions, over 68,000 employees and 66 manufacturing and technology centers…...
BrandsBusinessBusiness ManagementCompanyCompetitionCorporation
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How market structures determine the pricing and output decisions of businesses?
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