Industrial Economics – Meaning & Scope
July 22, 2020Factors of Production
August 15, 2020
This presentation covers the following concepts:
- Imperfect Competition
- Oligopoly- An Introduction
- Factors Causing Oligopoly: Large Capital Investment, Economies of Scale, Patent Rights, Mergers and Takeovers, Control over raw materials
- Characteristics of Oligopoly: Few Sellers, Homogeneous or Differentiated product, Entry is possible but difficult, Interdependence, Uncertainty, Indeterminateness
- Types of Oligopoly: Pure or Perfect Oligopoly, Imperfect or Differentiated Oligopoly, Collusive Oligopoly, Non-collusive Oligopoly
- Oligopoly Models: Cournot model, Edgeworth model, Chamberlin model, Price leadership model, Bertrand model, Kinked demand curve, Centralized cartel model, Market sharing cartel model
