Part one of term paper
There are four market structures in our economy today : Perfect competition, monopolistic competition, oligopolies and monopolies. This essay shall describe the oligopoly market. The definition of an oligopoly states that in an industry, a small number of firms dominate the market. There are a low number of firms in the industry, becasue and ...

Part two of term paper
... of sales, not of price. There is also a factor of concern from the firms in an oligopolistic market - where the actions of one firm will subsequently effect the other firms in the industry. This results in each oligopolist watching its competitors closely, and is a method of competition between the firms, other than by price wars. The Kinked Demand Curve, is the economical graph that shows why oligopolists tend to adopt a common price -to achieve the greatest price and output. The Hilmer commi ...