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Economics Homework Nine Answers - Student Four (view source)
Revision as of 01:13, March 9, 2011
, 01:13, March 9, 2011no edit summary
1.Identify an industry not mentioned in the lecture that is an oligopoly, and explain why.
1.Identify an industry not mentioned in the lecture that is an oligopoly, and explain why.
The laptop industry is an example of an oligopoly industry because there are not that many companies that produce laptops, it is difficult to start this business mostly because of money, and all the laptop companies sell similar goods. By owning a laptop company, you can make a lot of money, but if you were the only company that produced laptops, you could make much more. Because there are some competitors, laptop production is considered an oligopoly industry.
The laptop industry is an example of an [[oligopoly]] industry because there are not that many companies that produce laptops, it is difficult to start this business mostly because of money, and all the laptop companies sell similar goods. By owning a laptop company, you can make a lot of money, but if you were the only company that produced laptops, you could make much more. Because there are some competitors, laptop production is considered an oligopoly industry.
:Superb!
:Superb!