Oligopoly by Edna Dawit https://padlet.com/edawit/49c1e9yw2wzy Made with serendipity en-us 2017-11-06 01:32:05 UTC 2024-05-18 00:49:13 UTC hello@padlet.com Oligopoly edawit https://padlet.com/edawit/49c1e9yw2wzy/wish/203712453 By: Edna Dawit and Gracie Ritter]]> 2017-11-06 01:33:32 UTC https://padlet.com/edawit/49c1e9yw2wzy/wish/203712453 Characteristics edawit https://padlet.com/edawit/49c1e9yw2wzy/wish/203712633 -The market has FEW sellers
-Oligopolies either sell identical/similar products
- Very hard to enter or exit the market of Oligopolies.

]]> 2017-11-06 01:34:51 UTC https://padlet.com/edawit/49c1e9yw2wzy/wish/203712633 Example edawit https://padlet.com/edawit/49c1e9yw2wzy/wish/203713350 Identical Products]]> 2017-11-06 01:40:02 UTC https://padlet.com/edawit/49c1e9yw2wzy/wish/203713350 Example edawit https://padlet.com/edawit/49c1e9yw2wzy/wish/203713856 Hard to enter 
(Very many barriers) ]]> 2017-11-06 01:44:14 UTC https://padlet.com/edawit/49c1e9yw2wzy/wish/203713856 Broadcast Television edawit https://padlet.com/edawit/49c1e9yw2wzy/wish/203714290 There are very few sellers in Broadcast Television. Below those are the main broadcasters. Those networks all provide the same features; such as, news, sitcoms, and late night television. To start up company and try to rank beside them is near impossible. Entering this market is tough. ]]> 2017-11-06 01:48:15 UTC https://padlet.com/edawit/49c1e9yw2wzy/wish/203714290 Adv/Disadv edawit https://padlet.com/edawit/49c1e9yw2wzy/wish/203715306 * Advantages
-All provide similar products; therefore there are various options to choose from. Ex; ABC,FOX, and CNN. 
-Market prices are stable (always know what to expect when buying the product)
- Cartels don't last long because there is too much incentive to cheat Ex: OPEC
*Disadvantages
-Sellers can collude (work together). Ex: Airlines can get together and all set their prices the same to maximize profits)  
- Act as a cartel Ex: OPEC has monopoly power
- Cartels (which limit competition) can lead to higher prices and reduced output

]]> 2017-11-06 01:56:19 UTC https://padlet.com/edawit/49c1e9yw2wzy/wish/203715306 Video edawit https://padlet.com/edawit/49c1e9yw2wzy/wish/203718703 A catchy tone to help you understand Oligopoly markets! They go other the characteristics of oligopolies. They are also price setters. The video lists examples of oligopolies. ]]> 2017-11-06 02:25:37 UTC https://padlet.com/edawit/49c1e9yw2wzy/wish/203718703