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The members of the major league sports are in an oligopsony. There are many young men (particularly men) who would like to play professional Basketball, football and Baseball, but there are only a few major league teams on which they can play. Although the major league baseball teams have "farm" clubs, these too are limited in number.
Oligopsony, like oligopoly is also a matter of definition. If I live in New Nowhere, Kansas then there are no teams for which I can play without serious dislocation. On the other hand, if I live on the east coast, between Washington, DC and Boston then I am facing an oligopsonistic market.
In agriculture, farmers faced with oligopolistic buyers sometimes get together to form collective selling organizations (co-ops) to limit competition among themselves.
What else can I help you with?
Examples of barriers to entry?
Some examples: legal barriers (e.g.) state-enforced monopolies); high fixed capital costs (e.g.) automanufacturing); price manipulation by leading firms in uncompetitive markets (e.g.) leading firms in oligopolies); limited market size (e.g.) geographic isolation; low population; monopsony; oligopsony).
What is demand conditions?
The market structure of the market I.e. Barriers to entry #of firms Diversification
Which is the reason why there is no advertising by individual firms under pure competition?
Under pure competition, firms produce a homogeneous product, so there is no reason to advertise. Pure competition is also known as perfect competition.
Can students explain why nonprime competition is more likely under oligopoly conditions than is price competition?
In oligopoly markets, a few firms dominate, leading to interdependence in decision-making. Nonprice competition, such as product differentiation, advertising, and customer service, becomes more appealing as firms seek to gain market share without triggering price wars that could erode profits. Additionally, because firms often have similar cost structures and market power, they may prefer to compete on attributes other than price to maintain stable profit margins. Consequently, nonprice competition is more prevalent under oligopoly conditions than price competition.
Under what conditions do marketers have no flexibility in price control?
Marketers have no flexibility in setting prices under conditions of
Examples of barriers to entry?
Some examples: legal barriers (e.g.) state-enforced monopolies); high fixed capital costs (e.g.) automanufacturing); price manipulation by leading firms in uncompetitive markets (e.g.) leading firms in oligopolies); limited market size (e.g.) geographic isolation; low population; monopsony; oligopsony).
Acca Past Sample Questions and Answers of Financial Management?
true or false, managers should under no conditions take actions that their firms risk relative to the market, regqardless of how much those actions would increase the firms expected rate return.
Conditions that prevent the entry of new firms in a monopoly market are?
Barriers to entry.
What happens under the conditions?
To what, under which conditions?
Under which market condition do firms have excess capacity?
duopoly
What is demand conditions?
The market structure of the market I.e. Barriers to entry #of firms Diversification
Is it in the field conditions or under field conditions?
"Under field conditions" is more idiomatic.
Which is the reason why there is no advertising by individual firms under pure competition?
Under pure competition, firms produce a homogeneous product, so there is no reason to advertise. Pure competition is also known as perfect competition.
What are advantages of oligopsony?
Oligopsony, characterized by a market dominated by a few buyers, can lead to increased efficiency in purchasing as these buyers often have significant negotiating power, allowing them to secure lower prices from suppliers. This can benefit consumers through reduced costs, as lower input prices can translate into lower retail prices. Additionally, oligopsony can foster innovation among suppliers, who may seek to differentiate their products to attract the limited number of buyers. However, it's essential to balance these advantages with considerations of potential market power abuse and reduced supplier margins.
Can students explain why nonprime competition is more likely under oligopoly conditions than is price competition?
In oligopoly markets, a few firms dominate, leading to interdependence in decision-making. Nonprice competition, such as product differentiation, advertising, and customer service, becomes more appealing as firms seek to gain market share without triggering price wars that could erode profits. Additionally, because firms often have similar cost structures and market power, they may prefer to compete on attributes other than price to maintain stable profit margins. Consequently, nonprice competition is more prevalent under oligopoly conditions than price competition.
What happens to a population under ideal conditions?
Under ideal conditions, population increases.
Is a discharge "under honorable conditions" the same as a "general discharge under honorable conditions"?
No
