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Oligopoly Price and NonPrice Competition in Oligopoly I A Level and IB Economics
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In this session we review the economics of price and non-price competition in an oligopoly. This is one of the most important market structures that you can study and one that is tested frequently in exams. • #aqaeconomics #ibeconomics #edexceleconomics #oligopoly #economics • Timestamps • 0:00 Introduction - What is an Oligopoly? Examples: UK coffee shops, snack foods, car insurance • 2:18 Key characteristics of an oligopoly market structure • 4:15 Strategic interdependence in oligopoly • 5:09 Main aspects of non-collusive competition in oligopoly • 6:19 Causes of price wars in oligopoly • 11:00 Applying game theory to price wars and price collusion within an oligopoly • 14:05 Kinked demand curve and price competition in oligopoly • 17:58 Will price-cutting benefits in an oligopoly?
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