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Oligopolists
Beginning of essay
There are four market structures in our economy today : Perfect
competition, monopolistic competition, oligopolies and monopolies. This essay
shall describe the oligopoly market.
The definition of an oligopoly states that in an industry, a small
number of firms dominate the market. There are a low ....
Middle of essay
....market area. These two above practises are
ways of government intervention that regulate the conduct of oligopolies.
Australian examples of oligopolies include, Hoyts, Kelloggs, Bridgestone,
Dunlop, Carlton United, Dulux and Coca Cola.
In conclusion, Oligopolists tend to adopt a similar price, for similar
products, If price is to be raised, the firms find it best to do so together.
Oligopolists avoid price wars. Sales competition, not price competition is
their area.
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| Number of words: 349 |
Approximate pages: 2 |
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