An oligopoly is like the sibling of a monopoly. From the Greek words, “oligoi” and “polein”, which means few and to sell respectively, an oligopoly is a market structure wherein a market is dominated by a small number of sellers. Essays on oligopolies define the term, describe its characteristics, examine oligopolistic models, and discuss the advantages and disadvantages of oligopolies.
Essays on oligopolies should first define the meaning of the word and how it relates to the market structure. An oligopoly is a market form of a small number of sellers dominating a certain market and working interdependently, competing and at the same time cooperating with one another. Oligopolistic firms also use a trade practice called collusion that should be discussed and explained in essays on oligopolies. The characteristics of oligopolies such as profit maximization conditions, the ability to set and control prices, the number of firms, product differentiation, and its main feature, interdependence, should then be discussed in essays on oligopolies. Essays on oligopolies should also look at the different types of oligopolistic models such as the dominant firm model, the Cournot-Nash model, the Bertrand model, and the kinked demand model. Lastly, essays on oligopolies should discuss the advantages and disadvantages of the market structure, measure efficiency according to different models used and explain how an oligopoly can survive as well as maximize profits in today’s economy.
Before writing essays on oligopolies, you should first locate reliable sources on oligopolies as well as read some examples of essays on oligopolies that will further your understanding of the topic and thereby help you write a quality essay. Also, breading other essays on related topics such as essays on downsizing, essays on pay-for-performance plans, or essays on mergers and acquisitions from "rhetorical analysis essay" service, you can gain even greater insight about business issues, which will also help you write a better essay.
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