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15 cards from this deck
Market with small number of large, interdependent firms
Measure market share of largest firms in industry
Strategies to attract customers without changing price
Actions of one firm directly affect other firms
High barriers prevent new firms entering market easily
Prices tend to be stable, firms avoid price changes
Demand is relatively elastic (price increases)
Demand is relatively inelastic (price decreases)
Has discontinuity or gap at the kink
Firms openly agree on prices/output levels
Firms implicitly coordinate without explicit agreements
Making products distinct from competitors
OPEC (cartel agreeing on oil production quotas)
Market share of four largest firms in industry
Sum of market shares of largest firms (as %)
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