2007-11-11 00:36:33 · 5 answers · asked by parisochka 1 in Business & Finance ➔ Corporations
An oligopoly is a market condition in which the production of identical or similar products is concentrated in a few large firms. Examples of oligopolies in the United States include the steel, aluminum, automobile, gypsum, petroleum, tire, and beer industries. The introduction of new products and processes can create new oligopolies, as in the computer or synthetic fiber industries. Oligopolies also exist in service industries, such as the airlines industry.
An oligopoly may be categorized as either a homogeneous oligopoly or a differentiated oligopoly. In a homogeneous oligopoly the major firms produce identical products, such as steel bars or aluminum ingots. Prices tend to be uniform in homogeneous oligopolies. In a differentiated oligopoly, similar but not identical products are produced. Examples include the automobile industry, the cigarette industry, and the soft drink industry. In differentiated oligopolies companies attempt to differentiate their products from those of their competitors. To the extent that they are able to establish differentiated products, companies may be able to maintain price differences.
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2007-11-11 23:20:57 · answer #1 · answered by Sandy 7 · 1⤊ 0⤋
Differentiated Oligopoly
2016-11-09 23:05:38 · answer #2 · answered by ? 4 · 0⤊ 0⤋
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What is the difference between a homogenous and a defferentiated oligopoly?
2015-08-06 18:15:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋
difference homogenous defferentiated oligopoly
2016-01-29 06:21:55 · answer #4 · answered by ? 4 · 0⤊ 0⤋
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2016-04-01 10:01:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋