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Partnerships in Oligopoly
Updated: 10/18/2019
Partnerships in Oligopoly
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Storyboard Text

  • Ethan Wood
  • Partnerships in Oligopoly
  • Hey Dad, what is an oligopoly?
  • Take a seat son and I'll explain.
  • 2) So a few companies rule over specific products that serve the same purpose?
  • 1) An Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence. Usually containing 2 or more firms.
  • 2) Then how could there be partnerships in an oligopoly?
  • 1) Exactly!
  • 2) So it's like American Airlines and United Airlines, they are the big dogs in the flight industry but there are smaller airlines that provide special commodities.
  • 1) Well son, since there is a limited amount of companies involved within these oligopolies, the competition is limited, allowing every firm to be successful. This is what typically breeds the partnerships.
  • Thanks for the help Dad!
  • Glad I could help!
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