Partnership in Oligopoly

Partnership in Oligopoly

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  • Partnerships in Oligopoly
  • Elizabeth Jones
  • What is our market structure here Moses?
  • Well Ryan, our companies are in an oligopoly; this means we own most of the market. Now we are in a partnership oligopoly.
  • An Oligopoly is a market structure where there are 2 or more firms. Each firm sells either the exact same product, or different types of the same product, and there are significant barriers to enter.
  • Firms in oligopolies set prices to maximum their profits, ultimately it leads to partnerships  and different collaborations between firms. Because of this, firms can foster success for themselves and others; more specifically smaller companies operating in the same market.
  • Now, a sole proprietorship in a competitive market competes with the same product as others with different prices. In a monopoly, the firm has no competition and only creates 1 product. In just a monopoly, 2 firms can combine and create something so big it just never ever goes away.
  • Hope you better understand market structures. By Elizabeth Jones; Rivard - Economics 8
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