Price stickiness The theory of oligopoly suggests that, once a price has been determined, will stick it at this price. Even when MC moves out of the vertical portion, the effect on price is minimal, and consumers will not gain the benefit of any cost reduction.
Cartel-like behaviour reduces competition and can lead to higher prices and reduced output.
Pricing strategies of oligopolies Oligopolies may pursue the following pricing strategies: If the cost of implementation is greater than the pay-off, clearly it will be rejected. For example, if an airline raises the price of its tickets from London to New York, rivals will not follow suit and the airline will lose revenue - the demand curve for the price increase is relatively elastic.
This is best achieved by selling at a price just below the average total costs ATC of potential entrants. Oligopolists may be allocatively and productively inefficient.
Ownership or control of a key scarce resource Owning scarce resources that other firms would like to use creates a considerable barrier to entry, such as an airline controlling access to an airport.
Oligopolists may use predatory pricing to force rivals out of the market. Will rivals be able to copy the strategy.
There is a potential loss of economic welfare. Will the firms get a 1st - mover advantage. I hated Jatuporn who orders to burned Thailand. In terms of administration, he was effective at times. The CCU program works best for adults already established in a career, and for fast paced self motivated students who are looking to document their accumulated education or augment professional skills that have already been developed.
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