Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
|
Who both has barriers to entry so they arent worried
|
Oligopoly and monopoly
|
|
|
Can both of these companies make a short run and long run profit?
|
Yes!
|
|
|
Delta example
|
If delta is making a short run profit then they dont have to worry about new firms coming in because of barriers to enter
|
|
|
Oligopoly barriers
|
Financial
|
|
|
Monopoly barriers
|
Financial, legal, governmental
|
|
|
Who has game theory?
|
Oligopolies
|
|
|
Game theory
|
Idea of what you do not only impacts you but impacts the opponents and they will react and you have to be read
|
|
|
Why does this only happen in oligopolies?
|
Low numbers (cereal)
|
|
|
Why doesnt it happen in monopolies?
|
Big numbers (fast food) one wont change because another one changes
|
