The biggest and most notable reason why oligopolies exist is collaboration. A lot of Firms see more economic advantages in collaborating on a precise price than in trying to battle and drag price competitively with their competitors. By controlling prices in a cartel like way, oligopolies are able to raise their difficulty to entry.

A few oligopolists whose products I make use of are GMC, Samsung, Dell, Apple, UPS, and BP.

Oligopoly is differentiated from monopolistic competition in that oligopoly is comprised of a small number of businesses and they have distinguished or homogeneous products and trying to break-in into their line of business is very difficult.

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3 years ago

In the united states, ____ has been a cornerstone of the dominant culture, and part of that ____ means that we recognize and val

marshall27 [118]

Rugged individualism is a main part of our culture. With this ideal, we feel that every person's background is important and should be celebrated. In addition, the struggles and successes that we all face and experience should be recognized, instead of being downplayed, as would be the case in more collective cultures.

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3 years ago