An oligopoly is a market structure dominated by a small number of firms that recognize their interdependence. Key characteristics of oligopolies include firms producing either homogeneous or differentiated products, interdependence where the actions of one firm depend on reactions from competitors and consumers, and various forms of collusion being possible between firms. Oligopolies exhibit indeterminacy in pricing and output decisions due to the interdependence between firms.
The Term “Oligopoly” has been derived from two Greek words.
Sources of Oligopoly
Huge capital investment
Economies of scale.
Patent rights
Control over certain raw materials
Merger and takeover.
Characteristics Of Oligopoly
Various forms of oligopoly
Oligopoly models
A market can be defined as a group of firms willing and able to sell a similar product or service to the same potential buyers.
Imperfect competition covers all situations where there is neither pure competition nor pure monopoly.
Perfect competition and pure monopoly are very unlikely to be found in the real world.
In the real world, it is the imperfect competition lying between perfect competition and pure monopoly.
The fundamental distinguishing characteristic of imperfect competition is that average revenue curve slopes downwards throughout its length, but it slopes downwards at different rates in different categories of imperfect competition.
Monopoly refers to the market situation where there is a
Single seller selling a product which has no close substitutes.
Monopolies are characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the existence of a high monopoly price well above the firm's marginal cost that leads to a high monopoly profit
The word “oligopoly” comes from the Greek “oligos” meaning "little or small” and “polein” meaning “to sell.” When “oligos” is used in the plural, it means “few” ,few firms or few sellers.
DEFINATION:
Oligopoly is that form of market where there are few firms and there is natural interdependence among the firms regarding price and output policy.
The Term “Oligopoly” has been derived from two Greek words.
Sources of Oligopoly
Huge capital investment
Economies of scale.
Patent rights
Control over certain raw materials
Merger and takeover.
Characteristics Of Oligopoly
Various forms of oligopoly
Oligopoly models
A market can be defined as a group of firms willing and able to sell a similar product or service to the same potential buyers.
Imperfect competition covers all situations where there is neither pure competition nor pure monopoly.
Perfect competition and pure monopoly are very unlikely to be found in the real world.
In the real world, it is the imperfect competition lying between perfect competition and pure monopoly.
The fundamental distinguishing characteristic of imperfect competition is that average revenue curve slopes downwards throughout its length, but it slopes downwards at different rates in different categories of imperfect competition.
Monopoly refers to the market situation where there is a
Single seller selling a product which has no close substitutes.
Monopolies are characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the existence of a high monopoly price well above the firm's marginal cost that leads to a high monopoly profit
The word “oligopoly” comes from the Greek “oligos” meaning "little or small” and “polein” meaning “to sell.” When “oligos” is used in the plural, it means “few” ,few firms or few sellers.
DEFINATION:
Oligopoly is that form of market where there are few firms and there is natural interdependence among the firms regarding price and output policy.
Models of Oligopoly
Cournot’s duopoly model
Sweezy’s kinked demand curve model
Price leadership models
Collusive models :The Cartel Arrangement
The Game Theory
Prisoner’s Dilemma
Price leadership Model
Collusive models The Cartel Arrangement
Macro Economics
For downloading this contact- bikashkumar.bk100@gmail.com
Prepared by Students of University of Rajshahi
Tanvir Ahmed
Md Mamun Islam
Md Shahidul Islam
Anjon Mojumder
Sadia Afrin
The Contents Are:
Monopoly
Perfect Competition
Imperfect Competition
Oligopoly
Monopolistic Competition:
Characteristics Of Monopolistic Competition
Monopolistic Competitive Firm Earing Profit In Short Run
Monopolistic Competitive Firm Losses In Short Run
Monopolistic Competition In Long Run
Monopolistic Competition And The Welfare Of Society
Advertising
The Critique Of Advertising
The Defence Of Advertising
Models of Oligopoly
Cournot’s duopoly model
Sweezy’s kinked demand curve model
Price leadership models
Collusive models :The Cartel Arrangement
The Game Theory
Prisoner’s Dilemma
Price leadership Model
Collusive models The Cartel Arrangement
Macro Economics
For downloading this contact- bikashkumar.bk100@gmail.com
Prepared by Students of University of Rajshahi
Tanvir Ahmed
Md Mamun Islam
Md Shahidul Islam
Anjon Mojumder
Sadia Afrin
The Contents Are:
Monopoly
Perfect Competition
Imperfect Competition
Oligopoly
Monopolistic Competition:
Characteristics Of Monopolistic Competition
Monopolistic Competitive Firm Earing Profit In Short Run
Monopolistic Competitive Firm Losses In Short Run
Monopolistic Competition In Long Run
Monopolistic Competition And The Welfare Of Society
Advertising
The Critique Of Advertising
The Defence Of Advertising
Tnx group 15
For downloading this contact- bikashkumar.bk100@gmail.com
Prepared by Students of University of Rajshahi
MD: AL AMIN
SAIFUL ISLAM
RUKSANA PARVIN RUPA
SHAMIM MIA
LIMA AKTER
This chapter covers the types of market such as perfect competition, monopoly, oligopoly and monopolistic competition, in which business firms operate.
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how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
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how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
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how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
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1. MANAGERIAL ECONOMICS » OLIGOPOLISTIC MARKET
An oligopoly is defined as a market structure wherein industries are dominated
or handled by “few” firms. Oligopolistic market structure dominates the market
structures available, accounting half of the total outputs in the world. Industries which
adapt to these vary from manufacturers of automobiles to breakfast cereal or even
television broadcasting to airlines.
In the words of Robert Y. Awh, “Oligopoly is that market structure in which a
few sellers who clearly recognize their mutual interdependence produce the bulk of
the market output”.
Oligopoly differs from other market
categories in that, under monopoly we have only one seller, under perfect competition
we have many sellers, under monopolistic competition we has a sufficiently large
group of small monopolists whereas under oligopoly we have a few sellers
constituting a small group. In an Oligopolistic market the firms may be producing
either homogeneous or differentiated products. Besides, the element of
interdependence among rival firms in the group makes it difficult for us to have a
general theory of the oligopoly. In oligopoly the action of one firm depends not only
on the reaction of the consumers but also on the reaction of rival firms. Thus
decision-making becomes a complicated phenomenon. Before a firm makes any
decision it has to take into account the probable reaction of the rival firms.
Classification of Oligopoly
Oligopoly can be classified into a number of categories on the following basis :
2. 1. On the basis of product differentiation, we can have either pure oligopoly or
differentiated oligopoly. In case of pure-oligopoly, the products of different firms
in the group will be identical. There is no element of product differentiation. In
case of differentiated oligopoly, the competing firms produce products which are
not identical. There is product-differentiation.
2. On the basis of entry of firms, we may classify oligopoly as open oligopoly
and closed oligopoly. In open oligopoly the firms are free to enter the
market. There is no restriction of any kind for a firm to enter the group producing
very close substitute. This implies absence of any barriers to entry of a new
firm. In case of closed oligopoly there are barriers to the entry of a new firm. No
new firms are able to enter the existing group.
3. On the basis of the presence or absence of price-leadership, we may classify
oligopoly into partial or full oligopoly. In case of partial oligopoly there is one
price-leader. He takes the decision regarding prices and the rest of the firms
‘follow the leader’. In case of full oligopoly there is no leader and no
follower. Every producer takes his own decision regarding the fixation of price.
4. On the basis of deliberate agreement, oligopoly may be classified as collusive
oligopoly and non-collusive oligopoly. Under collusive oligopoly firms establish a
virtual monopoly by agreeing upon one common uniform price in the
market. They, combine together in order to avoid any cut-throat price
competition. This is called collusion. This practice of collusion has been quite an
illegal practice. If firms do not formally agree to get one price, the same result
may be worked out through ‘Understood’ informal collusion. In case of
non-collusive oligopoly the firms do not take a common uniform decision regarding
price-policy. Each firm takes its own decision.
Characteristics of Oligopoly
1. Competition among the Few : There are just a few sellers under oligopoly. The
number could be more than one but not very many. In case there are only two
sellers then such a market category is called Duopoly. Duopoly is perhaps a
special case of oligopoly.
2. Interdependence among rival firms : Interdependence is an integral part of
Oligopoly. In case of perfect competition, a firm is a price-taker. Each firm has
to take the price which prevails in the market. Under oligopoly the situation is
3. quite different. Each firm has to take into account the actions and reactions of
other firms while formulating its price policy. Before an oligopolist decides to fix
or change the price of his product he must study the ‘moves’ which his rivals are
likely to make in the market.
3. Possibility of Collusion : In order to avoid any cut-throat retaliation among the
firms through price-cutting, the firms decide to come together and unanimously
agree to adopt a uniform price policy. Thus collusion is normally likely to be
practical under oligopoly.
4. Rigidity in Pricing : Even in the absence of collusion of any type, there is
resistance to price changes among oligopolists. For if one oligopolist lowers the
price of his product to increase its demand by taking away his rival’s clientele then
the rival oligopolist will also resort to the policy of scaling down the price of his
product to win back and attract more of the other’s customers. Thus a price-war
starts. This retaliation in price-cutting would reduce the profits of all the
oligopolists. Thus the inevitable threat of price-cutting leads to price-rigidity.
5. Barriers to Entry : One of the essential features of oligopoly is the difficulty on the
part of new firms to enter the market. Entry barriers resulting from mergers,
ownership and control of key factors of production and the advantage of having
been ‘established’ and enjoying scale economies are significant elements in
maintaining the dominance of the existing few firms in the oligopolistic market.
6. Excessive Expenditure on Advertisement: Advertising and selling costs are of
strategic importance to oligopolists. To quote Baumol. “It is only under oligopoly
that advertising comes fully into its own.”
7. Indeterminateness: Interdependence of the firms and the firm’s reaction against
each other’s policy formulation poses several problems in the determination of
price and output. There is a wide spectrum of oligopolist behavior. To quote
Baumol, “Rivals may decide to get together and co-operate in the pursuit of their
objectives, at least so far as the law allows or, at the other extreme, they may fight
each other to death. Even if they enter into an agreement it may last or it may
break down. The agreements may follow a wide variety of patterns.” As a result of
this interdependence the demand curve of the oligopolist firm itself displays an
element of indeterminateness. Once the oligopolist decides to alter the price of
his product it will influence the demand for it in the market. But the rivals will also
retaliate (or at times remain docile), which in turn will affect the demand of the firm
which earlier charged its price. Thus the demand curve of the firm is
indeterminate and therefore there creeps in an element of indeterminancy
regarding the price-output policy of an oligopolist.
8. The Kinky Demand Curve: One of the most distinguishing features of Oligopoly is
the Kinky demand curve. Under Oligopoly the AR curve has a peculiar shape and
4. AR and MR bear some unique relationship. The concept of the Kinky demand
curve is more associated with the name of Paul M. Sweezy. The market situation
contemplated by Sweezy is one in which rivals will quickly match price reductions
but only hesitantly and incompletely (if at all) follow price increase and this leads
to the kinky demand curve.