Partnership in Oligopoly
Storyboard Text
- Partnership in an Oligoply
- I don't understand how our company is an Oligopoly. What is an Oligoply?
- Oh okay, I guess that makes since. I think i'm more confused of how an Oligoly can be a partnership..
- Well, since you asked. An oligoply market are markets dominated by a small number of suppliers.
- When oligopoly firms in a certain market decide what quantity to produce and what price to charge, they face a temptation to act as if they were a monopoly. By acting together, oligopolistic firms can hold down industry output, charge a higher price, and divide up the profit among themselves.
- Wow, okay. Thank you so much for helping me understand how an oligppoly can be a paretnership, and how our company is one!
- Of course, I'm glad i could help!!
- THE ENDBy: Skyler Brooks
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