Oligopolies can act like a more competitive firm if they compete hard which may end up a perfect competitor. As a result, cost will drive down and leads to zero economic profits for all. However, if they will have an agreement to collude, which means that oligopoly firms make joint decisions or coordination and thus, shows they behavior approaching to monopoly. The kind of coordination made by these players of oligopoly is called collusion. If those players have a formal agreement collude, we call them as cartels. There are many cases of oligopolies which are fiercely competitive. One of which is the pepsi and coke. They can somehow coordinate or have and agreement however, they compete fiercely. This is a special case of oligopoly where in there are only two players major players. This type of oligopoly is called duopolies. 

·         PLACE – Loading stations

·         TIME – Selling ‘Palaspas’ on holy week.

·         INFORMATION – The importance of using a air fryer when cooking fried food.

·         POSSESSION – Loans

Stop Over #2

Pepsi and Coke is an example of oligopolies and they are one of the sellers with little competition from other industries and businesses. They can become competitive if they try to capture all of the market's total sales. When they form a cartel, they work with other companies to set/manipulate the final product's price. This is an example of a duopoly, a market dominated by two brands.

Many of the purchases people make at the store are made in marketplaces that are neither completely competitive, monopolistic, or monopolistically competitive. They are oligopolies, not monopolies. Oligopoly occurs when a small number of large enterprises control all or most of an industry's sales. In an oligopoly, firms will act more competitively since they are attempting to take market share from one another in order to strengthen their market domination. However, if these companies band together, they will gain control over production and operate like a collective monopoly. Monopolistic competition, on the other hand, is an imperfect market in which numerous enterprises compete by providing differentiated but similar items.

2. PLACE – Fast food places - Mcdo, Jollibee, Kfc / near RTU

3. TIME – Selling Halo-halo, fan, digital E-fan in summer.

4. INFORMATION – Importance of knowing the different Covid-19 variants and effects of boosters 

5. POSSESSION – Use of G-cash and using digital applications for money transfer.

1.     FORM 

a.     Plastic in making containers and utensils; or Plastic as soil stabilizer

b.     Cellphone for text and call; or Cellphone use in over a wide area

2.     PLACE 

a.     Establishing coffee vending Machine near Call Center Company

b.     Selling foods and drinks near parks

3.     TIME 

a.     Selling Albums (K-Pop) of trending or new release music 

b.     Selling swimwear on before or during summer

4.     INFORMATION 

a.     Correct in takes of medicines like Paracetamol

b.     Nutritional Facts of food products

5.     POSSESSION 

a.     Payment using online transactions

b.     Digital/Online Shopping

 

1.     Form – plywood to make Vendo box, plywood to make Vendo box then to Vendo machine for pisowifi as a fully operational machine. 

2.     Place – Vendo Machine supplier located at San Jose del monte City over 45km away from RTU Campus. 

3.     Time – Pisowifi internet load, whenever a client has no time credit on his/her android phone or I phone. Then that’s when he/she inserts coins for extra time credits.

4.     Information – Instruction guide on how to insert coin

5.     Possession – Android phone or I phone

·      Raw meat of an animal (cow, goat, pig, etc.) to make process foods; process foods to make different kind of dishes.

·      Chicken to create and hatch an egg; egg to cook a sunny side-up type of cooked egg.

2.)   Place – 

·      Convenience stores near home

·      Coffee Vending Machines near a BPO Company

3.)   Time –

·      Selling products every 15^th day and 30^th day of the month

·      Selling products every 1.1, 2.2, 3.3 and so on at e-commerce applications (Shopee, Lazada, etc.)

4.)   Information – 

·      Instruction how to assemble an electric fan

·      Instruction how to use maintenance tools

5.)   Possession – 

·      E-wallet

·      Debit Card

 

Sherwin Buenavista

: When does an oligopoly act more like a perfectly competitive firm, and when does it act more like a monopolist?

Many of the purchases people make at the store are made in marketplaces that are neither completely competitive, monopolistic, or monopolistically competitive. They are oligopolies, not monopolies. Oligopoly occurs when a small number of large enterprises control all or most of an industry's sales. The auto sector, cable television, and commercial air travel are all examples of oligopoly. Firms that operate in an oligopolistic environment are similar to cats in a bag. They have the option of scratching each other to death or cuddling and becoming comfortable with one another. If oligopolists compete aggressively, they may end up behaving more like perfect rivals, driving costs down and resulting in zero profits for all. If oligopolists work together, they can successfully function as a monopoly and achieve their goals.

Sherwin Buenavista

1.       Form     - Tree to wood for houses

-Tap water to Drinking water

       2.     Place     - coffee shop near RTU campus

                                - Canteen / eatery near RTU campuses

        3.   Time      - Selling gift items and wrappers in November and December

                                -Selling jackets during winter

         4.  Information-  The importance of using of alcohol during pandemic.

       - Importance of using nuclear energy to meet the needs of the Philippines in the power.

 

        5. Possession-  Using coupons to buy

                                   -  The use of reward cards

ANSWER:   An Oligopoly act more like a perfectly competition when a lot of vendors offered the same product and they compete fiercely with each other, and it acts more like monopoly when the two vendors or a company cooperate to each other.

1.      FORM – wax for making candle, a cabinet that still needs to assemble.

2.      PLACE – Computer shop, Photo studio. 

3.      TIME – in Winter season sale of boots and gloves, in Summer season demand of ice cream. 

4.      INFORMATION – a salespeople explain features of products, and packaging explains qualities and uses. 

5.      POSSESSION – checks and installment plans. 

·         Bamboo for making furniture (chairs, tables, etc.)

·         Cottons for production of clothes

2.       PLACE

·         Food and Drinks on Food Parks / Food Fairs

3.       TIME

·         Parol & Christmas Décors on ‘ber’ months

·         Chocolates & Flowers during Valentines

4.       INFORMATION

·         Voters Education before Election

·         Fact Checking to avoid spreading of misinformation

5.       POSSESSION

·         Bank Transfers

·         E-Payments (GCash, Paymaya, Coins.Ph etc.)

CEIT-08-601E                                                     
1. FORM – Coconut milk turn into coconut milk yogurt, Sweet shredded coconut turn into coconut macaroons

2. PLACE - Fast Food Restaurants/ near UST Campus

3.  TIME - Selling coats, scarves, gloves and mittens on before and during winter.
4.  INFORMATION – Instructions on how to use Humidifier, Proper way to take vitamins
5. POSSESSION – Grab-pay wallet, Online banking money transfer

  

MANALANG, MARY ROSE B.                          
CEIT-08-601E

1.       Oligopolies – Oligo comes from the Greek word “few” and poly comes from the word “sellers”. Oligopolies can sometimes act much more like monopolies if they coordinate.

2.       Duopolies – a form of oligopoly, where only two firms or companies dominate the market.

3.      Collision – It is a simply act of conspiring to increase your economic benefit as well as the benefit of those with whom you collude. Sometimes collusion occurs without any communication. We call this tacit collusion. More vocal than tacit collusion.

4.      Cartels – When the firms have a formal agreement to collude we call these players as cartels. Example of a cartel is what we call the Organizing of Petroleum Exporting Countries (OPEC). It is a group of 12 countries that collectively controls 79% of the world’s oil reserves. 

 

QUESTION: When does an oligopoly act more like a perfectly competitive firm, and when does it act more like a monopolist?

We can have ideal competition in some marketplaces since they are relatively easy for new producers to enter. If there are market inefficiencies or if manufacturers are reaping big profits, new businesses enter the market to compete for these gains and operate more effectively. This is what keeps perfect competitors honest. If markets are difficult to enter—for example, if one firm controls all of the resources required to make a good, or if the equipment required to produce something is prohibitively expensive, etc.—then there can't be perfect competition by definition, because new firms can't simply enter the market to keep the older firms honest. This sort of situation (referred to in economic terms as "barriers to entry") is what allows monopolies and oligopolies to come into existence.

In addition, highly efficient marketplaces result in minimal profit. The economic phrase "allocative efficiency" refers to the practice of fixing the price at the cost of production. Monopolies and cartels can find ways to establish prices that are greater than this. Unlike what Alexander said, this price is not "greater than consumers wish to pay." Each point on the demand curve indicates a price that some customers are prepared to pay. No one is "forced" to buy at this price; rather, they have the option of buying at this price or not buying at all, which is always the case when there is just one price in a market, whether it is completely competitive or not.

To summarize, companies can generate a greater profit when they are not required to be efficient. Perfectly competitive marketplaces are simple to enter, and new businesses enter anytime old enterprises are overly lucrative in order to steal a piece of the profits for themselves. Because monopolistic and oligopolistic marketplaces are almost impossible to enter, businesses in these markets are not required to be efficient, and they may therefore benefit in the long term.

1.       Form – Pizza made from several ingredients

                   - Parts of lounge chair

2.       Time – Dial – a – pizza; delivery guaranteed in 30 minutes

                    - Quick lube services

 

3.      Place – Delivery at your doorstep

                   - Warehouses

 

4.      Information – The importance of using a facemask

                               - Answering customer's questions
   

5.      Possession – Pizza sales (in exchange for rupees or credit card payment)

                              - Debit cards checks layaway

- Oligopoly firms behave more like fully competitive firms, attempting to acquire market share from one another in order to strengthen their market domination. However, if these enterprises cooperate, they gain control of production and behave like a collective monopoly.

- Turning wood to furnitures

- Cooking a raw chicken to a fried chicken

- Branching out your furniture store into different locations

- Delivering the fried chicken to your house

- Selling masks and face shields in the time of pandemic

- Selling sandos and bikinis this summer

- Commercials about the features of your product

- Ads about the promos of your product

- Buying an NFT

- Owning a stock or crypto

STOPOVER #04:
Write/type 2 more examples of each type of utility.

1. Form  
- Lagundi leaves to make lagundi syrup and then lagundi capsules. 
- From the apple fruits to make it apple juice.

2. Place  
- Bakeshop near barangay hall. 
- Computer shop near our house.

3. Time
- Selling flowers and chocolates on Valentine’s Day. 
- Selling candles on November 1 and 2.

4. Information
– The importance of not using cigarettes and alcohol to our health. 
- The importance of consulting a doctor about using the right beauty products.

5. Possession
– The use of a beep card. 
- The utilize of QR codes.

 

CEIT-08-601E

5 Types of Utility and examples

1. FORM - Orange peel to make insecticide; Orange peel to make oil

               - Stainless steel to make machine; Stainless steel to make straw

2. PLACE - Pharmacy near hospital

                 - Stationery store near school

3. TIME - Selling flower on or before February 14

               - Selling costumes on or before October 31

4. INFORMATION - Importance of internet especially nowadays

                                - Importance of vitamins in our body

5. POSSESSION - The use of online banking

                            - The use of Paypal

1. FORM – Sugar to make candy; Glass to window, mirror, TV screen, tableware

2. PLACE – Convenience Store; Fast Food Chains

3. TIME – Selling Swimwear on summer; Jackets on winter

4. INFORMATION - Salespeople explain features of products; Advertising informs consumers about products

5. POSSESSION – Use of online banks such as G-cash for money transfer of purchasing online; Layaway Plan 

CEIT-08-601E

When does an oligopoly act more like a perfectly competitive firm, and when does it act more like a monopolist?

- Oligopoly sometimes act more like a monopoly if companies coordinate or collude in which they have control in the production and in the prices of their products or services.

- Oligopoly is sometimes like a perfect competition wherein only few companies compete hard resulting to lowering the price of the products or services.

-An oligopoly is distinguished from a perfectly competitive market in that each firm in an oligopoly must consider its interdependence. Then oligopolies can reduce market competition, lowering costs and resulting in no profit for everyone. 

-When oligopoly firms decide that they’re going to cooperate, they’re going to behave a lot more like a monopoly than they will as competitors. So, oligopolies act as monopolies when in a particular market they negotiate what quantity to produce and what price to charge. If they behave like one company and they’re behaving there, they’ll have a market structure that’s much closer to a monopoly than to competition.

 

1.1.           Crude oil makes fuel

1.2.           Crude oil makes lubricants

2.      PLACE

2.1.           Sampaguita vendors near churches

2.2.           Funeral Home/Funeral parlor/Mortuary near a Cemetery

3.      TIME

3.1.           Selling Tikoys during New Year/Chinese New Year

3.2.           Selling School Supplies during start of School Year

4.      INFORMATION

4.1.           Instructions on how to ride the MRT (including different stations)

4.2.           Instructions on how to pay bills online

5.      POSSESSION

5.1.           The use of senior citizen cards to have discounts

5.2.           The use of PWD cards to have discounts

CEIT-08-601E

Answer: If oligopolists compete aggressively, they may behave more like perfect competitors, driving costs down and resulting in zero profits for all. On the other hand, if oligopolists work together, they can effectively act as a monopoly, driving up prices and making continuously large profits.

CEIT-08-601E

1. FORM – Stones to make construction materials then decorative objects

2. PLACE – Food restaurant near school universities

3. TIME – Selling a back-to-school supplies starting on the month of June

4. INFORMATION – The importance of using alcohol for safety and hygiene purposes

5. POSSESSION – Online grocery shopping

1. FORM – Textiles to make threads then clothes  

2. PLACE – Convenient stores near residences

3. TIME – Selling a swim wear during summer

4. INFORMATION – The importance of using hand soap and tissues, especially during this pandemic.

5. POSSESSION – The use of wifi or cellular data

1.      FORM – Sand to make glass then windows 

2.      PLACE – School Supply near RTU Campus 

3.      TIME – Selling Ice cream or Ice candy on summer

4.      INFORMATION – Importance of using alcohol and hand soap during this pandemic

5.      POSSESSION – The shop is near to your house

1.      FORM – Stone to make Hollow blocks then Wall

2.      PLACE – Convenient Store near Call Center company

3.      TIME – Selling 🤬 bumbong on December

4.      INFORMATION – Commercial advertising of product

5.      POSSESSION – The use of online shopping application

CEIT-08-601E

 

1.      FORM 

·         Clays are used to produce ceramics, which are then turned into tiles.

·         Polymers are made to produce rubber, which is then used to manufacture running shoes.

2.      PLACE 

·         Korean Mart

·         Home Furniture Retailers

3.      TIME

·         Selling Korean popular merchandise prior to the album's release

·         Selling fireworks during New Year

4.      INFORMATION

·         The importance of acquiring a laptop for online learning.

·         The convenience of using vacuum cleaner for individuals who suffer from allergic rhinitis.

5.      POSSESION

·         Online Shopping (Shopee, Lazada, Amazon)

·         Purchasing premium subscriptions such as Netflix, Spotify, and even YouTube Premium.

Write/type 2 more examples of each type of utility directly on your Padlet tab:

1. FORM 

- Water to become ice candies

- Wood to become charcoals

2. PLACE

- ATM inside malls

- computer shop near schools

3. TIME 

- opening of beach resorts during summer

- selling flowers and chocolates every February

4. INFORMATION

- itinerary package description in Boracay Trip

- benefits of drinking green tea

5. POSSESSION

- using beep cards in train stations

- using vouchers in online shopping

1. FORM –

              -Luxury car

              -Cellphones

2. PLACE –

              -Warehouse/ Car factories

              -Phone Factories

3. TIME –

              -Selling Halo halo during summer

              -Umbrella every rainy days

4. INFORMATION –

              -Manual of every product

              -Cellphone Settings

5. POSSESSION –

              -Buying things that doesn’t needed

              -Motor for Display