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Essay / Research Paper Abstract
This 3 page paper examines two different industries--cigarette and auto manufacturers--to explore the nature of oligopoly. Pricing is a major component of this inquiry. Bibliography lists 6 sources.
Page Count:
3 pages (~225 words per page)
File: RT13_SA621oli.rtf
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Unformatted sample text from the term paper:
auto makers, amongst others ("Oligopoly," 2006). The Wall Street Journal published a piece on oligopoly not too long ago which suggests that the meaning is difficult to fathom because
what constitutes a "few" varies ("What Constitutes," 2005). In other words, how few companies are sufficient to render an industry oligopolistic in nature? There is no firm answer on that.
According to a student writing on this subject "oligopolistic industries often find ways to avoid direct price competition while using non-price competition to contest market share." In other words, such
firms use other ploys aside from pricing to get their product across and gain market share. As noted, examples of oligopoly in the United States include cigarette and auto manufacturers.
There are many others that have not been named such as the telephone, cable and energy industries, but for purposes of discussion, the two industries will be the focus of
this investigation. In examining the Wall Street Journal for evidence that certain types of non-price competition are used in these industries, and conditions under which firms avoid price, several
articles surface. Also, as a student also notes, it is important to look at conditions under which firms engage in price competition. The focus of the investigation is on price
competition in oligopolistic industries. White & McCracken (2006) reports on GM and other American brands that suffered from problems with reliability and inferior quality, at least when compared with
Japanese cars. Here, the idea is that American cars, regardless of pricing, would have to come up with new ways of winning the publics loyalty, but mostly this will come
down to a better product. Here, price matters little. Another article demonstrates that the weight of the car matters and points to CAF? laws ("Fuel Efficiency and Safer Cars,"
...