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ECO 106 Pace University New York Monopolistic and Oligopolistic Firms Discussion

ECO 106 Pace University New York Monopolistic and Oligopolistic Firms Discussion

Question Description

The textbook mentions that a four-firm concentration ratio of 40 percent or higher can be used to classify an industry as an oligopoly. Economists believe that competition in markets with lower concentration ratios is usually sufficient to ensure that firms do not engage in collusion or otherwise not compete with rival firms. But for oligopoly markets, how can you evaluate whether or not firms are using market power to charge high prices and avoid competition that would benefit consumers?

Give an example of an oligopolistic market, including the firms in the dominant positions, that you believe is engaging in unfair or anticompetitive behavior.

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