New England College Oligopolistic Industries Discussion

Discussion Board – Oligopolistic Industries

An oligopoly is characterized by a relatively small number of firms
offering a similar product or service. Oligopoly products may be
branded, as in soft drinks, cereals, and athletic shoes, or unbranded,
as in crude oil, aluminum, and cement. The main distinction of oligopoly
is that the number of firms is small enough that actions by any
individual firm on price, output, product style, quality, introduction
of new models, and terms of sale has an impact on the sales of other
firms in the industry. Review the Table 12.1 (pg. 416), select a
dominant single firm, duopoly firm, and triopoly firm and discuss if you
foresee any weaknesses in the three firms you selected that would allow
entrance into this market or if one of the firm has enough strength to
become a monopoly?