{"id":6514,"date":"2018-02-05T15:37:19","date_gmt":"2018-02-05T15:37:19","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/chapter\/outcome-introduction-to-oligopolies\/"},"modified":"2024-04-25T22:11:03","modified_gmt":"2024-04-25T22:11:03","slug":"introduction-to-oligopolies","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/chapter\/introduction-to-oligopolies\/","title":{"raw":"Introduction to Oligopolies","rendered":"Introduction to Oligopolies"},"content":{"raw":"<h2>What you\u2019ll learn to do:\u00a0describe and analyze oligopolies<\/h2>\r\n<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222218\/New-frontier-logo.png\"><img class=\"aligncenter wp-image-8083 size-medium\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222218\/New-frontier-logo-300x125.png\" alt=\"Frontier Communications logo. Text reads &quot;Frontier Communications&quot; with ten dots making an arch.\" width=\"300\" height=\"125\" \/><\/a> <a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222220\/CenturyLink_2010_logo.svg_.png\"><img class=\"aligncenter wp-image-8084 size-medium\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222220\/CenturyLink_2010_logo.svg_-300x62.png\" alt=\"CenturyLink logo. Circle with green stripes and the text &quot;CenturyLink&quot;\" width=\"300\" height=\"62\" \/><\/a> <a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222223\/1000px-Comcast_Logo.svg_.png\"><img class=\"aligncenter wp-image-8085 size-medium\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222223\/1000px-Comcast_Logo.svg_-300x106.png\" alt=\"Comcast logo. Text says &quot;comcast&quot; in black text and there is a minimalist styled peacock above the text.\" width=\"300\" height=\"106\" \/><\/a>\r\n\r\nMost of the firms that get talked about as \u201cmonopolies\u201d today or that regulatory authorities pursue antitrust activities against are actually oligopolies, firms that have only a limited number of competitors. There are quite a few industries in the U.S. that are oligopolistic. Think about rental cars, or car manufacturers, or newspapers, or internet service providers.\r\n\r\nIn this section, you\u00a0will learn what oligopolies are and why they exist. You'll read about how some oligopolies are motivated to work together and collude to ensure higher profits, while others compete and act more like perfect competitors.","rendered":"<h2>What you\u2019ll learn to do:\u00a0describe and analyze oligopolies<\/h2>\n<p><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222218\/New-frontier-logo.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8083 size-medium\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222218\/New-frontier-logo-300x125.png\" alt=\"Frontier Communications logo. Text reads &quot;Frontier Communications&quot; with ten dots making an arch.\" width=\"300\" height=\"125\" \/><\/a> <a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222220\/CenturyLink_2010_logo.svg_.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8084 size-medium\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222220\/CenturyLink_2010_logo.svg_-300x62.png\" alt=\"CenturyLink logo. Circle with green stripes and the text &quot;CenturyLink&quot;\" width=\"300\" height=\"62\" \/><\/a> <a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222223\/1000px-Comcast_Logo.svg_.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8085 size-medium\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/02\/02222223\/1000px-Comcast_Logo.svg_-300x106.png\" alt=\"Comcast logo. Text says &quot;comcast&quot; in black text and there is a minimalist styled peacock above the text.\" width=\"300\" height=\"106\" \/><\/a><\/p>\n<p>Most of the firms that get talked about as \u201cmonopolies\u201d today or that regulatory authorities pursue antitrust activities against are actually oligopolies, firms that have only a limited number of competitors. There are quite a few industries in the U.S. that are oligopolistic. Think about rental cars, or car manufacturers, or newspapers, or internet service providers.<\/p>\n<p>In this section, you\u00a0will learn what oligopolies are and why they exist. You&#8217;ll read about how some oligopolies are motivated to work together and collude to ensure higher profits, while others compete and act more like perfect competitors.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-6514\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Oligopolies. <strong>Authored by<\/strong>: Steven Greenlaw and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>This is the new logo for Frontier Communications.. <strong>Authored by<\/strong>: Frontier Communications. <strong>Provided by<\/strong>: Wikimedia. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/commons.wikimedia.org\/wiki\/File:New-frontier-logo.png\">https:\/\/commons.wikimedia.org\/wiki\/File:New-frontier-logo.png<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/pdm\">Public Domain: No Known Copyright<\/a><\/em><\/li><li>Logo of Comcast. <strong>Authored by<\/strong>: Comcast. <strong>Provided by<\/strong>: Wikimedia. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/commons.wikimedia.org\/wiki\/File:Comcast_Logo.svg\">https:\/\/commons.wikimedia.org\/wiki\/File:Comcast_Logo.svg<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/pdm\">Public Domain: No Known Copyright<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":29,"menu_order":10,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Oligopolies\",\"author\":\"Steven Greenlaw and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"This is the new logo for Frontier Communications.\",\"author\":\"Frontier Communications\",\"organization\":\"Wikimedia\",\"url\":\"https:\/\/commons.wikimedia.org\/wiki\/File:New-frontier-logo.png\",\"project\":\"\",\"license\":\"pd\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Logo of Comcast\",\"author\":\"Comcast\",\"organization\":\"Wikimedia\",\"url\":\"https:\/\/commons.wikimedia.org\/wiki\/File:Comcast_Logo.svg\",\"project\":\"\",\"license\":\"pd\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"7c83740b-d003-4078-8ee6-3088bd7b0348","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-6514","chapter","type-chapter","status-publish","hentry"],"part":6490,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/6514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/users\/29"}],"version-history":[{"count":8,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/6514\/revisions"}],"predecessor-version":[{"id":8545,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/6514\/revisions\/8545"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/parts\/6490"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/6514\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/media?parent=6514"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapter-type?post=6514"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/contributor?post=6514"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/license?post=6514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}