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Oligopolists
Part I of Essay
There are four market structures in our economy today : Perfect
competition, monopolistic competition, oligopolies and monopolies. This essay
shall describe the oligopoly market.
The definition of an oligopoly states that in an industry, a small
number of firms dominate the .... Part II of Essay
.... shows why
oligopolists tend to adopt a common price -to achieve the greatest price and
output.
The Hilmer committe, estabilished 1993, is a government body who acts in
the interests of recommendations of National Competition policies.
In 1995, the Trade Practises Act (T.P.A.) was introduced. The T.P.A.
sets out the general responsibilities of sellers, such as the firms of
oligopolies, and out laws actions that may be unfair to the consumers. This
includes misleading advertising, market sharing and collusion.
Collusion is where the firms ....
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Words: 349 - Pages: 2
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