ECON 1000 Lecture Notes - Lecture 11: Miller Lite, Nash Equilibrium, Pearson Education

• School: York University
• Department: Economics
• Course: ECON 1000
• Professor: Gordana Colby

Document Summary

15. 1 what is oligopoly: the market structure in which natural or legal barriers prevent the entry of new firms and a small number of firms compete is, monopoly, monopolistic competition, perfect competition, oligopoly, duopoly. Topic: what is oligopoly: suppose that industry a consists of four firms who collectively control 96 percent of total sales in the market. We can conclude that industry a is: perfectly competitive, a duopoly, monopolistically competitive, an oligopoly, a monopoly. Topic: what is oligopoly: which one the following industries is the best example of an oligopoly, the market for wheat, the fast-food industry, the automobile industry, the clothing industry, the restaurant industry. Topic: what is oligopoly: which one of the following industries is the best example of an oligopoly, the battery industry, the sporting goods industry, the footwear industry, the cosmetics industry, the power industry. Topic: what is oligopoly: firm x is competing in an oligopolistic industry.