Oligopolies by William Schmidt https://padlet.com/wschmidt19/k4nklktincvyst2i en-us 2023-05-11 16:54:28 UTC 2025-11-14 15:06:08 UTC hello@padlet.com https://padlet.net/icons/png/1f1f0-1f1ff.png What is an Oligopoly? wschmidt19 https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2587525873 An Oligopoly is when a certain market only has a few producers.]]> 2023-05-11 17:05:53 UTC https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2587525873 Characteristics according to the Textbook wschmidt19 https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2589078998 1. It has few sellers.
2. Firms produce or sell either identical or slightly differentiated products.
3. The barriers to entry are significant, which means that entry into the market is difficult.]]> 2023-05-12 18:51:21 UTC https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2589078998 Delta Airlines wschmidt19 https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2590248917 Delta Airlines is one of a few airlines in the United States. Delta is part of an Oligopoly of airlines in the U.S., providing commercial flights across the globe. They are one of few who do this, as it is difficult to get into the airline business for a myriad of reasons.]]> 2023-05-14 19:44:23 UTC https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2590248917 Review Questions wschmidt19 https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2590249099 https://docs.google.com/forms/d/e/1FAIpQLSfdbtJOU_HgYRanjWnzCGsNJS-bXGVJ4WqZtXXz8f0lzGELBA/viewform?usp=sf_link]]> 2023-05-14 19:44:45 UTC https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2590249099 Video on Airline Oligopoly wschmidt19 https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2590271384 2023-05-14 20:29:41 UTC https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2590271384 Advantages and Disadvantages of Oligopolies wschmidt19 https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2590282782 Advantages:
1. It makes choosing between what producer of a product you want easier. There are limited major spaghetti sauce makers, but it makes deciding which one to pick slightly easier.
2. There is still competition, so producers still have incentive to produce quality products. To continue the spaghetti sauce makers point, a lot of their goods are indeed quality.

Disadvantages:
1. There are limited producers, so the options are more limited. There are very few airlines to choose from, so booking flights is not exactly very easy.
2. There's really not much stopping producers from jacking up prices due to limited options in the market. Needless to say, flights on airlines are pretty expensive.]]> 2023-05-14 20:56:15 UTC https://padlet.com/wschmidt19/k4nklktincvyst2i/wish/2590282782