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- QUESTION
Please write a discussion post about topic provided down below. Please do not use any outside resources. Please read the instructions carefully before you start this assignment.
Discussion: Oligopoly
Name a product that you regularly purchase from a firm that operates in an oligopolistic industry. Explain why the product and firm fit the model of oligopoly. What interdependence have you noticed between the firm you selected and its rivals in terms of product differentiation, or price competition? Explain your answer.
Share your thoughts.
Watch the Video:
Oligopoly: Who Owns the Media
https://www.youtube.com/watch?time_continue=117&v=DvSTlxJsKzE&feature=emb_logo
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Business |
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3 |
Style |
APA |
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Answer
Oligopoly
An oligopoly is a market structure characterized by a small number of firms, barriers to entry, price rigidity, and collusion. An example of an oligopolistic firm is the Comcast, in the US cable television, which offers different products including telephone, wireless services, and internet. Cable firms are the same as they principally out to maximize profits, an important objective; however nowhere in this calculus is sensitivity to how consumers is taken into account. The customers are loyal to the firms since it is an oligopoly and they have very little choice. Comcast is an oligopolistic firm because it participates in products differentiation to increase its customer. The firm has a large market share and colludes with the rivals to keep the profits higher. In the television cable industry, the large cablecos such as Comcast rig the market to make sure that they do not ever get into any competitions with each other. The firm, however, spends lot of money to protect its market and ensure the would-be competitors remain smaller and keep other firms out of the market, leading to the proliferation of relatively 'lower price special deals.' Such initiatives effectively keep rivals at bay nonetheless after some months the consumers establish that the monthly prices they pay increase significantly as extra fee is imposed and discount silently detached. The interdependence between Comcast and other rival companies is that they take part in product differentiation to increase sales. The price ranges for all the rival firms is almost similar. However, the danger for an oligopoly in competition is that every company is affected by its rivals’ action. Due to this the firms always collude to either reduce or increase prices to ensure none of the firms is disadvantaged.
References
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Appendix
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Appendix A:
Communication Plan for an Inpatient Unit to Evaluate the Impact of Transformational Leadership Style Compared to Other Leader Styles such as Bureaucratic and Laissez-Faire Leadership in Nurse Engagement, Retention, and Team Member Satisfaction Over the Course of One Year
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