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  2. Oligopoly - Wikipedia

    en.wikipedia.org/wiki/Oligopoly

    An oligopoly (from Ancient Greek ὀλίγος (olígos) 'few' and πωλέω (pōléō) 'to sell') is a market in which pricing control lies in the hands of a few sellers. [ 1 ] [ 2 ] As a result of their significant market power, firms in oligopolistic markets can influence prices through manipulating the supply function .

  3. Kinked demand - Wikipedia

    en.wikipedia.org/wiki/Kinked_demand

    Sweezy argued that an ordinary demand curve does not apply to oligopoly markets and promotes a kinked demand curve. From Queen's College in Oxford , Robert Lowe Hall and Charles J. Hitch wrote "Price Theory and Business Behavior," presenting similar ideas but including more rigorous empirical testing, including a business survey of 39 ...

  4. Market power - Wikipedia

    en.wikipedia.org/wiki/Market_power

    The graph below depicts the kinked demand curve hypothesis which was proposed by Paul Sweezy who was an American economist. [29] It is important to note that this graph is a simplistic example of a kinked demand curve. Kinked Demand Curve. Oligopolistic firms are believed to operate within the confines of the kinked demand function.

  5. Bertrand–Edgeworth model - Wikipedia

    en.wikipedia.org/wiki/Bertrand–Edgeworth_model

    In microeconomics, the Bertrand–Edgeworth model of price-setting oligopoly looks at what happens when there is a homogeneous product (i.e. consumers want to buy from the cheapest seller) where there is a limit to the output of firms which are willing and able to sell at a particular price. This differs from the Bertrand competition model ...

  6. Cournot competition - Wikipedia

    en.wikipedia.org/wiki/Cournot_competition

    The monopoly price is the for which this curve intersects the line =, while the duopoly price is given by the intersection of the curve with the steeper line =. Regardless of the shape of the curve, its intersection with u = 2 p {\displaystyle u=2p} occurs to the left of (i.e., at a lower price than) its intersection with u = p {\displaystyle u ...

  7. Differentiated Bertrand competition - Wikipedia

    en.wikipedia.org/wiki/Differentiated_Bertrand...

    An increase in a competitor's price is represented as an increase (for example, an upward shift) of the firm's demand curve. As a result, when a competitor raises price, generally a firm can also raise its own price and increase its profits.

  8. Demand curve - Wikipedia

    en.wikipedia.org/wiki/Demand_curve

    An example of a demand curve shifting. D1 and D2 are alternative positions of the demand curve, S is the supply curve, and P and Q are price and quantity respectively. The shift from D1 to D2 means an increase in demand with consequences for the other variables

  9. Supply and demand - Wikipedia

    en.wikipedia.org/wiki/Supply_and_demand

    Supply chain as connected supply and demand curves. In microeconomics, supply and demand is an economic model of price determination in a market.It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where the quantity demanded equals the quantity supplied ...