# data[].attributes.body
Positive effects are to eliminate monopoly and inform consumers. Negative effects are they can be manipulative and even self cancelling for the firms.

# data[].attributes.body
-Not many firms
-Mostly dominated by a few
-Either have same or differentiated products
-Use non-price competition mostly, but use price if homogeneous

# data[].attributes.body
When multiple firms work together to set a standard price to eliminate competition and raise revenue. Collusion is currently illegal in the U.S.

# data[].attributes.body
When a firm pushes a lower price, lower than the dominate firm, this could lead to a price war.

# data[].attributes.body
A group that writes a formal agreement that specifies the output and price each firm will produce in a market.

# data[].attributes.body
-Demand and cost differences
-# of firms
-Cheating
-Recession
-Potential Entry of other firms
-Legal obstacles (anti-trust law)

# data[].attributes.body
Firms in an oligopoly ignore one firm raising it's prices but match the same firm's price decreases in order to stay competitive.

# data[].attributes.body
Oligopolists can coordinate prices without engaging in outright collusion by following the price decisions of the market leader

# data[].attributes.body
Competition between two products associated with different industries.

# data[].attributes.body
Plant and equipment that are underused because firms are producing less than the min ATC output

# data[].attributes.body
Since there is a fear of the other firm lowering their prices, There is an incentive to cheat and lower their prices down even if they agree upon staying at high prices.

# data[].attributes.body
The price that achieves allocative efficiency because MC intersects the demand curve

# data[].attributes.body
Selling a specific product at more than one price wen the price differences are not justified by cost differences.

# data[].attributes.body
"Sum of the squared percentage market squares of all firms in the industry"

# data[].attributes.body
Single seller
no close substitutes
Price Maker
Blocked Entry
Non-price Competition

# data[].attributes.body
Import competition- much of the auto industry is of imported items.

# data[].attributes.body
A transfer of income or wealth to a particular firm or resource supplier at someone else's or society's expense.

# data[].attributes.body
Competition between two products in different industry (copper and aluminum)

# data[].attributes.body
Product attributes, employees' service, location of the stores, brand names, and packaging

# data[].attributes.body
The value of a product increases as more consumers use it.

# data[].attributes.body
some products' markets are highly localized due to high transportation costs.

# data[].attributes.body
Monopolists face a downward sloping demand curve meaning that when their output changes, the price they are able to charge consumers also changes.

# data[].attributes.body
Each firm has a small market share.
There is no collusion
Differentiated Products
Independent Action
Each Firm has their own price

# data[].attributes.body
when two firms link together in order to gain a higher share over the market. (At&t with Directv)

# data[].attributes.body
A product's ability to satisfy a large number of consumers at the same time.

# data[].attributes.body
Economies of scale
Patents/Licenses
Ownership/Control of Resources
Pricing and Competition