Oligopoly
Need to KnowAt the end of this section the student should be able to:
• Give examples of OY markets in Ireland • Outline the features of an OY Explain why firms in OY do not always looks to maximise profits • Explain the shape of the kinked demand curve • Explain the concept of price rigidity • Graph and explain the equilibrium of and OY • Explain collusion and give examples of forms collusion in OY markets Explain why consumers prefer price competition to non-price competition Explain the potential benefits of non-price competition |
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