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An oligopoly (from Ancient Greek ὀλίγος (olígos) 'few' and πωλέω (pōléō) 'to sell') is a market in which pricing control lies in the hands of a few sellers. [1] [2] As a result of their significant market power, firms in oligopolistic markets can influence prices through manipulating the supply function.
Three types of oligopoly. Due to the hallmark of oligopoly being the presence of strategic interactions among rival firms, the optimal business strategy of an enterprise can be studied through the thought of game theory. Under the logic of game theory, enterprises in oligopoly market have interdependent behavior.
Despite the growth facts above, the loss of employment is more likely to directly affect Ohio's economy. The Ohio Bureau of Labor Market Information estimates that there will be 3,300 less assembly employees and 2,400 less parts manufacturing employees in 2012 than 2002. [97] Major firms operating in the state include Ford, Honda, and General ...
Maybe you think of my Ohio as an industrial state: steel, rubber, cars. But not any more. The top 14 employers in the state are health care providers, retailers and a bank. Wal-Mart is at the top ...
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Competition in a duopoly can vary due to what is being set in the market: price or quantity (see Cournot competition and Bertrand competition). It is generally agreed that a duopoly will feature higher barriers to entry than an oligopoly, as firms within a duopoly have a greater potential for absolute advantage with respect to demand.
Predatory pricing is a commercial pricing strategy which involves the use of large scale undercutting to eliminate competition. This is where an industry dominant firm with sizable market power will deliberately reduce the prices of a product or service to loss-making levels to attract all consumers and create a monopoly. [1]
A German manufacturer who plans to move into the new industrial park in Shalersville is asking to join the Joint Economic ... new jobs’ contributions to the Ohio income tax, an estimated value ...