What is the difference between the American Bipartisan system and an Oligopoly? Is this democracy?
Q. It seems to me that all that happens in this country is a sharing of power between the Democratic and Republican Party. If one party looses an election all they need to do is wait a few years and then try again, eventually the other party will win an election in a period of 2 (senate) to 8 or 12 years maximum. Therefore the party that looses an election is guaranteed to win sooner or later. This appears to be very similar to an economic oligopoly, where each party knows what the other is doing and they only need to wait in order to have power and control. My question would be, if an Oligopoly is considered an unfair business practice, why should it be fair to have a two party political system? Is this democracy?
Asked by Jack M - Sun May 14 12:56:51 2006 - - 4 Answers - 0 Comments
A. American is not, and was never intended to be, a democracy. In a democracy, it is pure majority rule. In a republic, like the US, people get together and elect someone else to vote on their behalf and to make decisions for everyone elese. It's majority rule by proxy. An Oligopoly is an economic model where a few people control the means of production and distribution. An Oligarchy is a political system where a few people control the power. The US is not an Oligarchy, since the power is held by political parties, not individuals. It may be an oligopoly, depending upon how you view corporate ownership. Is it fair? No. Personally, I think political parties are one one of the worst mistakes made by this country since its founding. I think… [cont.]
Answered by coragryph - Sun May 14 13:09:26 2006
Q. It seems to me that all that happens in this country is a sharing of power between the Democratic and Republican Party. If one party looses an election all they need to do is wait a few years and then try again, eventually the other party will win an election in a period of 2 (senate) to 8 or 12 years maximum. Therefore the party that looses an election is guaranteed to win sooner or later. This appears to be very similar to an economic oligopoly, where each party knows what the other is doing and they only need to wait in order to have power and control. My question would be, if an Oligopoly is considered an unfair business practice, why should it be fair to have a two party political system? Is this democracy?
Asked by Jack M - Sun May 14 12:56:51 2006 - - 4 Answers - 0 Comments
A. American is not, and was never intended to be, a democracy. In a democracy, it is pure majority rule. In a republic, like the US, people get together and elect someone else to vote on their behalf and to make decisions for everyone elese. It's majority rule by proxy. An Oligopoly is an economic model where a few people control the means of production and distribution. An Oligarchy is a political system where a few people control the power. The US is not an Oligarchy, since the power is held by political parties, not individuals. It may be an oligopoly, depending upon how you view corporate ownership. Is it fair? No. Personally, I think political parties are one one of the worst mistakes made by this country since its founding. I think… [cont.]
Answered by coragryph - Sun May 14 13:09:26 2006
Can you explain how California's cellular phone companies are an oligopoly?
Q. An oligopoly has - few firms and high barriers to entry - heterogeneous product which can be created through advertising - mutual interdependencies in pricing and output - strategic pricing where large firms drive small firms out - the ability to earn a positive economic profit - collusion which although illegal can be done implicitly through price leadership How do California's cell phone companies fit these criteria?
Asked by Scotty - Sat Dec 13 22:38:48 2008 - - 2 Answers - 0 Comments
A. FCC sells the channels in which the companies operate. The cost to obtain channels, install equipment, and begin operations, will prevent those who wish to enter into the market.
Answered by Kacy H - Sat Dec 13 22:42:53 2008
Q. An oligopoly has - few firms and high barriers to entry - heterogeneous product which can be created through advertising - mutual interdependencies in pricing and output - strategic pricing where large firms drive small firms out - the ability to earn a positive economic profit - collusion which although illegal can be done implicitly through price leadership How do California's cell phone companies fit these criteria?
Asked by Scotty - Sat Dec 13 22:38:48 2008 - - 2 Answers - 0 Comments
A. FCC sells the channels in which the companies operate. The cost to obtain channels, install equipment, and begin operations, will prevent those who wish to enter into the market.
Answered by Kacy H - Sat Dec 13 22:42:53 2008
Can a profit be made in the short run of Oligopoly, Monopolistic Competition and Monopoly market structures?
Q. Can a profit be made in the short run of Oligopoly, Monopolistic Competition and Monopoly market structures?
Asked by moporho - Wed Apr 11 16:43:27 2007 - - 1 Answers - 0 Comments
A. yes. Only market structure w/o profit is Perfect competition. And even then, it means no _economic_ profit, which still means positive accounting profit since it includes returns to shareholders.
Answered by Darth Severus - Wed Apr 11 17:21:35 2007
Q. Can a profit be made in the short run of Oligopoly, Monopolistic Competition and Monopoly market structures?
Asked by moporho - Wed Apr 11 16:43:27 2007 - - 1 Answers - 0 Comments
A. yes. Only market structure w/o profit is Perfect competition. And even then, it means no _economic_ profit, which still means positive accounting profit since it includes returns to shareholders.
Answered by Darth Severus - Wed Apr 11 17:21:35 2007
Is an oligopoly in the Cell Phone industry beneficial?
Q. hey, i was wondering, do you guys think having an oligopoly in the Cell Phone industry is beneficial to the economy? please list why you think so also. Thank You so much!
Asked by Jasu - Tue Apr 20 20:12:40 2010 - - 2 Answers - 0 Comments
A. It isn't harmful since it appears with this new Cricket cell carrier that there is reasonably free entry and exit and they all compete with each other to provide the best service for the lowest price. If they restricted output to jack the price up it would be different. It is also probably be a good thing because there are high fixed costs and low marginal costs so large companies can provide the service cheaper. Imagine if there were 200 companies each with their own towers and satellites. Also, calling people on the same network for free is made possible with these few large companies. If it was on a small network what would be the point?
Answered by AreJay - Tue Apr 20 20:55:03 2010
Q. hey, i was wondering, do you guys think having an oligopoly in the Cell Phone industry is beneficial to the economy? please list why you think so also. Thank You so much!
Asked by Jasu - Tue Apr 20 20:12:40 2010 - - 2 Answers - 0 Comments
A. It isn't harmful since it appears with this new Cricket cell carrier that there is reasonably free entry and exit and they all compete with each other to provide the best service for the lowest price. If they restricted output to jack the price up it would be different. It is also probably be a good thing because there are high fixed costs and low marginal costs so large companies can provide the service cheaper. Imagine if there were 200 companies each with their own towers and satellites. Also, calling people on the same network for free is made possible with these few large companies. If it was on a small network what would be the point?
Answered by AreJay - Tue Apr 20 20:55:03 2010
What specific oligopoly model best describes Coca-Cola?
Q. I'm doing a Microeconomics group assignment, and my team would like to know which is the best models of oligopoly that fit Coca-Cola Amatil. We have studied the Cournot duopoly model, the Bertrand model and the Stackelberg model but there doesn't seem to be a match. Does anyone out there know which specific oligopoly model describes Coca-Cola best? PS: Give supporting eveidence and website URLs if possible
Asked by Steven TJ - Mon May 21 11:44:01 2007 - - 2 Answers - 0 Comments
A. If you have Coke vs smaller local producers, it is Stackelberg price leadership. If you have Coke vs Pepsi, use price competition with differentiation. It is a generalization of Betrand (which has no differentiation). An example of that is logit demand model consumer's value of Coke is V_c + e_c where V_c is a constant (average value), and e_c is random variable drawn from extreme value distribution with standard seviation S. Same for pepsi: V_p + e_p, where e_p again has s.d. of S. Then if Coke sets price P_c and pepso - P_c, the market share of Coke is: exp((V_c - P_c)/S) / [ exp((V_c - P_c)/S) + exp((V_p - P_p)/S)] where exp(...) is the exponent, e to the power of (...)
Answered by Darth Severus - Mon May 21 15:02:33 2007
Q. I'm doing a Microeconomics group assignment, and my team would like to know which is the best models of oligopoly that fit Coca-Cola Amatil. We have studied the Cournot duopoly model, the Bertrand model and the Stackelberg model but there doesn't seem to be a match. Does anyone out there know which specific oligopoly model describes Coca-Cola best? PS: Give supporting eveidence and website URLs if possible
Asked by Steven TJ - Mon May 21 11:44:01 2007 - - 2 Answers - 0 Comments
A. If you have Coke vs smaller local producers, it is Stackelberg price leadership. If you have Coke vs Pepsi, use price competition with differentiation. It is a generalization of Betrand (which has no differentiation). An example of that is logit demand model consumer's value of Coke is V_c + e_c where V_c is a constant (average value), and e_c is random variable drawn from extreme value distribution with standard seviation S. Same for pepsi: V_p + e_p, where e_p again has s.d. of S. Then if Coke sets price P_c and pepso - P_c, the market share of Coke is: exp((V_c - P_c)/S) / [ exp((V_c - P_c)/S) + exp((V_p - P_p)/S)] where exp(...) is the exponent, e to the power of (...)
Answered by Darth Severus - Mon May 21 15:02:33 2007
What's the difference between an oligopoly and a competitive monopoly?
Q. What's the difference between an oligopoly and a competitive monopoly?
Asked by metalfan2112 - Thu Feb 16 15:46:06 2006 - - 1 Answers - 0 Comments
A. Monopoly is where there is only one company running an industry, and oligopoly is where there is more than 3. But check the dictionary.
Answered by heavy_d65 - Thu Feb 16 16:55:16 2006
Q. What's the difference between an oligopoly and a competitive monopoly?
Asked by metalfan2112 - Thu Feb 16 15:46:06 2006 - - 1 Answers - 0 Comments
A. Monopoly is where there is only one company running an industry, and oligopoly is where there is more than 3. But check the dictionary.
Answered by heavy_d65 - Thu Feb 16 16:55:16 2006
Is Google a monopolistic competition or oligopoly?
Q. When it comes to market structure, is Google's market (search engines) an oligopoly or a monopolistic competition? I can't figure out which one it is!
Asked by laurennxbam - Sun Oct 18 15:48:13 2009 - - 2 Answers - 0 Comments
A. In open global market scenario, most of multi-national corporations are now oligopolistic, as global village concept nearly ended monopolistic market conditions.
Answered by gosain - Thu Oct 22 13:04:05 2009
Q. When it comes to market structure, is Google's market (search engines) an oligopoly or a monopolistic competition? I can't figure out which one it is!
Asked by laurennxbam - Sun Oct 18 15:48:13 2009 - - 2 Answers - 0 Comments
A. In open global market scenario, most of multi-national corporations are now oligopolistic, as global village concept nearly ended monopolistic market conditions.
Answered by gosain - Thu Oct 22 13:04:05 2009
Can dead weight loss occur in an oligopoly market or does it only occur in a monopoly market?
Q. Revising for exams, help appreciated. Thanks flixxx, thank u for your reply, can u tell me what producer surplus is again, thanks
Asked by phoenix - Wed May 28 05:42:10 2008 - - 1 Answers - 0 Comments
A. Yes, an oligopoly will lead to deadweight loss. Whenever quantity is below the perfectly competitive quantity and price is above perfectly competitive price there is a loss in total economic surplus. The firms, however, will have a higher surplus, it is the consumer (and the total) surplus that is lower. Producer Surplus: is shown by the area above the supply curve and below the price-line. It's basically because at lower prices the producer would still supply some good, so for all the goods up to the last one he produces he gets more than he needs to compensate him for selling the good. This link will show you the diagrams and theory. Plus bized is a really good site.
Answered by flixxx - Wed May 28 05:57:31 2008
Q. Revising for exams, help appreciated. Thanks flixxx, thank u for your reply, can u tell me what producer surplus is again, thanks
Asked by phoenix - Wed May 28 05:42:10 2008 - - 1 Answers - 0 Comments
A. Yes, an oligopoly will lead to deadweight loss. Whenever quantity is below the perfectly competitive quantity and price is above perfectly competitive price there is a loss in total economic surplus. The firms, however, will have a higher surplus, it is the consumer (and the total) surplus that is lower. Producer Surplus: is shown by the area above the supply curve and below the price-line. It's basically because at lower prices the producer would still supply some good, so for all the goods up to the last one he produces he gets more than he needs to compensate him for selling the good. This link will show you the diagrams and theory. Plus bized is a really good site.
Answered by flixxx - Wed May 28 05:57:31 2008
What is an oligopoly, perfect competition, and monopolistic competition?
Q. Hello folks! Can anyone please explain: Oligopoly Perfect Competition and Monopolistic Competition. An example of each as well. thhhaaannkkksss!!!
Asked by wanna know - Tue Oct 14 09:16:23 2008 - - 1 Answers - 0 Comments
A. Oligopoly is a market structure characterized by a small number of relatively large firms that dominate an industry. The market can be dominated by as few as two firms or as many as twenty, and still be considered oligopoly. With fewer than two firms, the industry is monopoly. As the number of firms increase (but with no exact number) oligopoly becomes monopolistic competition. Because an oligopolistic firm is relatively large compared to the overall market, it has a substantial degree of market control. It does not have the total control over the supply side as exhibited by monopoly, but its capital is significantly greater than that of a monopolistically competitive firm. An example might be the security ratings agencies of S&P and… [cont.]
Answered by Bill B - Tue Oct 14 16:59:18 2008
Q. Hello folks! Can anyone please explain: Oligopoly Perfect Competition and Monopolistic Competition. An example of each as well. thhhaaannkkksss!!!
Asked by wanna know - Tue Oct 14 09:16:23 2008 - - 1 Answers - 0 Comments
A. Oligopoly is a market structure characterized by a small number of relatively large firms that dominate an industry. The market can be dominated by as few as two firms or as many as twenty, and still be considered oligopoly. With fewer than two firms, the industry is monopoly. As the number of firms increase (but with no exact number) oligopoly becomes monopolistic competition. Because an oligopolistic firm is relatively large compared to the overall market, it has a substantial degree of market control. It does not have the total control over the supply side as exhibited by monopoly, but its capital is significantly greater than that of a monopolistically competitive firm. An example might be the security ratings agencies of S&P and… [cont.]
Answered by Bill B - Tue Oct 14 16:59:18 2008
Features of oligopoly, Oligopoly as a market form, How does it function in a market?
Q. Some practical examples are also needed. aroun 2-3 should do.
Asked by Peter S - Thu Aug 23 05:05:54 2007 - - 2 Answers - 0 Comments
A. Try these links:
Answered by dias - Tue Aug 28 13:51:18 2007
Q. Some practical examples are also needed. aroun 2-3 should do.
Asked by Peter S - Thu Aug 23 05:05:54 2007 - - 2 Answers - 0 Comments
A. Try these links:
Answered by dias - Tue Aug 28 13:51:18 2007
What competition is it? (Perfect, monopoly, monopolistic, oligopoly) of Car rental business? Why? ?
Q. I just confused about Monopolistic Competition in Car rental Business, it has more producer or has less producer in the market? Please give me some suggestions. Thanks ^^
Asked by Aum L - Sat Sep 13 06:16:37 2008 - - 2 Answers - 0 Comments
A. I see relatively few car rental companies and relatively high barriers to entry (cost of the cars) so am tempted to say oligopoly out of your choices, but there also appears to healthy price competition in many local markets so am not positive. Definitely not monopoly or monopolistic.
Answered by Hajji - Sat Sep 13 10:31:27 2008
Q. I just confused about Monopolistic Competition in Car rental Business, it has more producer or has less producer in the market? Please give me some suggestions. Thanks ^^
Asked by Aum L - Sat Sep 13 06:16:37 2008 - - 2 Answers - 0 Comments
A. I see relatively few car rental companies and relatively high barriers to entry (cost of the cars) so am tempted to say oligopoly out of your choices, but there also appears to healthy price competition in many local markets so am not positive. Definitely not monopoly or monopolistic.
Answered by Hajji - Sat Sep 13 10:31:27 2008
What are some similiarities between sellers in an oligopoly and a monopoly?
Q. What are some similiarities between sellers in an oligopoly and a monopoly?
Asked by Kaylalala :]] - Sat Jul 17 23:29:46 2010 - - 1 Answers - 0 Comments
A. they have at least some control over price at which they are selling.
Answered by Bored Goblin - Sun Jul 18 23:55:07 2010
Q. What are some similiarities between sellers in an oligopoly and a monopoly?
Asked by Kaylalala :]] - Sat Jul 17 23:29:46 2010 - - 1 Answers - 0 Comments
A. they have at least some control over price at which they are selling.
Answered by Bored Goblin - Sun Jul 18 23:55:07 2010
Free market advocates say oligopoly cannot be sustained in the free market?
Q. because businesses competiting each other for market share is more profitable than businesses coming together to cartelize and "work together" and share profits. They usually say that the government regulations render a market environment where cartelizing is more profitable and say that oligopolistics market environment cannot exist under free market. So my question is, why is competiting more profitable than cartelizing in the free market?
Asked by Y!user - Wed Aug 25 03:45:01 2010 - - 2 Answers - 0 Comments
Q. because businesses competiting each other for market share is more profitable than businesses coming together to cartelize and "work together" and share profits. They usually say that the government regulations render a market environment where cartelizing is more profitable and say that oligopolistics market environment cannot exist under free market. So my question is, why is competiting more profitable than cartelizing in the free market?
Asked by Y!user - Wed Aug 25 03:45:01 2010 - - 2 Answers - 0 Comments
Why is innovation good for a particular firm in this oligopoly market structure?
Q. Please be specific about what might be gained. James - an oligopoly sturucture.
Asked by VLJ14 - Tue Jun 19 10:08:07 2007 - - 2 Answers - 0 Comments
A. What structure are you referring to?
Answered by Jack Murphy - Tue Jun 19 10:19:57 2007
Q. Please be specific about what might be gained. James - an oligopoly sturucture.
Asked by VLJ14 - Tue Jun 19 10:08:07 2007 - - 2 Answers - 0 Comments
A. What structure are you referring to?
Answered by Jack Murphy - Tue Jun 19 10:19:57 2007
how is willy wonka part of an oligopoly?
Q. I need to know this for my senior project for economics.
Asked by Bebe Boricua - Sun May 9 15:53:32 2010 - - 2 Answers - 0 Comments
A. An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists), therefore Willy Wonka, being a chocolate seller in the chocolate market which is dominated by a small number of sellers, is indeed part of an oligopoly.
Answered by Snowdog - Thu May 13 05:37:12 2010
Q. I need to know this for my senior project for economics.
Asked by Bebe Boricua - Sun May 9 15:53:32 2010 - - 2 Answers - 0 Comments
A. An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists), therefore Willy Wonka, being a chocolate seller in the chocolate market which is dominated by a small number of sellers, is indeed part of an oligopoly.
Answered by Snowdog - Thu May 13 05:37:12 2010
Is australian airline industry a non collusive oligopoly or a collusive one ?
Q. which is it?
Asked by theighth8@yahoo.cn - Wed Oct 22 02:11:18 2008 - - 1 Answers - 0 Comments
A. I'd say its non collusive. The industry is well regulated, competition is strong and the lack of large profits all suggest that there is little or no collusion present.
Answered by Ashley Challis akchallis@hotmail - Wed Oct 22 02:41:34 2008
Q. which is it?
Asked by theighth8@yahoo.cn - Wed Oct 22 02:11:18 2008 - - 1 Answers - 0 Comments
A. I'd say its non collusive. The industry is well regulated, competition is strong and the lack of large profits all suggest that there is little or no collusion present.
Answered by Ashley Challis akchallis@hotmail - Wed Oct 22 02:41:34 2008
Patents and copyrights were established by the government to reduce oligopoly and monopoly power?
Q. True or False
Asked by josh - Sun Apr 25 13:44:27 2010 - - 2 Answers - 0 Comments
A. False patents and copyrights actually help making monopolies. If i can patent a new pill or something similar i would have his monopoly.
Answered by Garibaldo - Sun Apr 25 13:48:36 2010
Q. True or False
Asked by josh - Sun Apr 25 13:44:27 2010 - - 2 Answers - 0 Comments
A. False patents and copyrights actually help making monopolies. If i can patent a new pill or something similar i would have his monopoly.
Answered by Garibaldo - Sun Apr 25 13:48:36 2010
What does the kinked demand curve model of oligopoly predict and what are the models main weakness?
Q. What does the kinked demand curve model of oligopoly predict and what are the models main weakness?
Asked by Mandi - Sat Jun 7 05:39:13 2008 - - 1 Answers - 0 Comments
A. The kinked demand curve predicts that reaction of demand for one of oligopolies members on change in price will not necessarily be the same (or reversed) in both directions due to specific reaction on change in price made by one of members. One of a weaknesses of this prediction is that it's not explaining well responses to changes in demand (don't confuse with movement along demand curve).
Answered by Yuri - Tue Jun 10 21:28:36 2008
Q. What does the kinked demand curve model of oligopoly predict and what are the models main weakness?
Asked by Mandi - Sat Jun 7 05:39:13 2008 - - 1 Answers - 0 Comments
A. The kinked demand curve predicts that reaction of demand for one of oligopolies members on change in price will not necessarily be the same (or reversed) in both directions due to specific reaction on change in price made by one of members. One of a weaknesses of this prediction is that it's not explaining well responses to changes in demand (don't confuse with movement along demand curve).
Answered by Yuri - Tue Jun 10 21:28:36 2008
What are the industry which has a monopoly, oligopoly and perfect competition.?
Q. For each market structure give me two. Thanks
Asked by Calai - Sat Jul 31 23:04:07 2010 - - 1 Answers - 0 Comments
A. Monopoly - Railway and Post Office Oligopoly - Petrol companies (Shell, Exxon); burger joints (McDonalds, Wendy's and Burger King) Perfect competition - Milk producers, fish market and the vegetable or fruit vendors
Answered by Sandy - Sun Aug 1 04:17:56 2010
Q. For each market structure give me two. Thanks
Asked by Calai - Sat Jul 31 23:04:07 2010 - - 1 Answers - 0 Comments
A. Monopoly - Railway and Post Office Oligopoly - Petrol companies (Shell, Exxon); burger joints (McDonalds, Wendy's and Burger King) Perfect competition - Milk producers, fish market and the vegetable or fruit vendors
Answered by Sandy - Sun Aug 1 04:17:56 2010
How game theory can be helpful in understanding oligopoly and in explaining recent movements in oil price?
Q. How game theory can be helpful in understanding oligopoly and in explaining recent movements in oil price?
Asked by joey - Thu Jul 29 15:18:11 2010 - - 1 Answers - 0 Comments
A. OPEC exerts great influence on the price of oil. OPEC is a cartel that contracts with its members to maximize the benefit of its members. Game theory is a good way to understand oligopoly. When an industry is controlled by a few large players, the players know what each other player is doing. This in turn affects their decisions. For example, if Venezuela needs extra money to support is economy, it might want to sell more oil than its agreement with OPEC allows. This will lower the price of oil. As other firms see Venezuela doing this, they too will sell more oil in order to get more money. However, the extra supply will actually decrease the price of oil and some members may not come out ahead.
Answered by Devin - Thu Jul 29 16:11:30 2010
Q. How game theory can be helpful in understanding oligopoly and in explaining recent movements in oil price?
Asked by joey - Thu Jul 29 15:18:11 2010 - - 1 Answers - 0 Comments
A. OPEC exerts great influence on the price of oil. OPEC is a cartel that contracts with its members to maximize the benefit of its members. Game theory is a good way to understand oligopoly. When an industry is controlled by a few large players, the players know what each other player is doing. This in turn affects their decisions. For example, if Venezuela needs extra money to support is economy, it might want to sell more oil than its agreement with OPEC allows. This will lower the price of oil. As other firms see Venezuela doing this, they too will sell more oil in order to get more money. However, the extra supply will actually decrease the price of oil and some members may not come out ahead.
Answered by Devin - Thu Jul 29 16:11:30 2010
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Motley Fool As you likely know, Vale, BHP, and Rio Tinto (NYSE: RTP) control the lion's share of the world's iron ore production, and oligopoly's can be a profitable ...
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American's Coming Health Care . Oligopoly. Forbes Then you better learn, because they describe how the health care system is changing under President Obama's health care reform legislation. The Massachusetts Health-Care 'Train Wreck'Wall ...
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