O ECO2023 MICROECONOMICS ONLINE 592728 Name a product that you regularly purchas
ID: 1153370 • Letter: O
Question
O ECO2023 MICROECONOMICS ONLINE 592728 Name a product that you regularly purchase from a firm that operates in an oligopolistic industry. Explain why the product and firm fit the model of oligopoly. Think about the TV commercials and/or print advertisements that you've seen from this industry: What interdependence have you noticed between the firm you selected and its rivals in terms product differentiation, price leadership, or price competition? Explain your answer Discussion 8: Oligopoly G Ends Jun 15, 2018 11:30 PMExplanation / Answer
In an Oligopoly market where only few companies have influence on the market. These companies have control over the price of the products .
Example : Smart phones '
Firm : Samsung
Here in Smart phones market only few firms have influence over the market where they dominate the industry. Samsung is one such firm where it is having large influence on the market where it price variatrions will also have affect on the rival sellers.
Samsung got its own loyal customers where it tries to implement new methods and develop new models which attracts the customers . Its rivals such as micromax, htc , sony etc are trying to overcome the competition as it is providing high features at a reasonable cost where its rival companies are not abe to provide. Its price is reasonable and the product is of good quality.
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