https://padlet.com/mtruong28/2sm3ca8lwqlqqzi By: Rachel Estvold and Melinda Truong en-us 2023-05-11 16:52:09 UTC 2025-11-05 21:04:21 UTC hello@padlet.com https://padlet.net/icons/png/1f601.png mtruong28 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587515211 Characteristics:
1. It has only a few sellers.
2. Firms produce either identical or similar products.
3. Barriers to entry are significant. (difficult entry in market)]]> 2023-05-11 16:57:30 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587515211 mtruong28 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587525054 -Airlines (Delta and Sun Country)

-Technology (Apple and Android)

-Groceries (Sam's Club and Costco)]]> 2023-05-11 17:05:16 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587525054 mtruong28 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587525592 2023-05-11 17:05:39 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587525592 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587554563 Company Profile: Our company is named Raylinderz Airlines, after our founders, Rachel and Melinda. We provide Americans international and domestic flights to over 200 destinations. Our mission is to give every one of our passengers the luxurious comfort and safety we are known for on every flight. ]]> 2023-05-11 17:26:52 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587554563 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587559889 1. Simple choices for the consumer (Example: Most people choose between Samsung and Apple cell phones.)
2. High profits for dominant firms (Example: Airline companies can work with each other to sell their tickets for more.)]]> 2023-05-11 17:30:28 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587559889 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587560524 2023-05-11 17:30:57 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587560524 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587570321 1. Fewer consumer choices (Example: Delta, United, Southwest, and American make up the majority of airline choices.)
2. Higher prices for consumers (Example: Collusion can allow an increase in price without fear of competition.) ]]> 2023-05-11 17:37:44 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587570321 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587571824 2023-05-11 17:38:52 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587571824 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587581255 1. Price discrimination occurs when a business charges different prices to different buyers without any cost differences. If the intention is to harm competitors, it is illegal.
2. A cartel agreement is an agreement that specifies how firms will act in a coordinated way to reduce competition. OPEC is a well-known cartel.]]> 2023-05-11 17:46:06 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587581255 mtruong28 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587585236 Analyze the percentage of sales accounted for by the top few industries. If only a few firms account for a large percentage of the sales, it is an oligopolistic market.]]> 2023-05-11 17:49:17 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587585236 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587595683 Give it your best shot!]]> 2023-05-11 17:57:52 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587595683 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587596421 2023-05-11 17:58:28 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587596421 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587596910 2023-05-11 17:58:48 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587596910 mtruong28 https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587597377 2023-05-11 17:59:14 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2587597377 restvold https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2589059539 2023-05-12 18:30:23 UTC https://padlet.com/mtruong28/2sm3ca8lwqlqqzi/wish/2589059539