Lecture 16: Oligopoly I
recorded by: Massachusetts Institute of Technology, MIT
published: Dec. 3, 2012, recorded: December 2011, views: 2920
released under terms of: Creative Commons Attribution Non-Commercial Share Alike (CC-BY-NC-SA)
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We have already learned about the operation of two very different types of markets: perfectly competitive markets and monopolists. However, most markets don’t fall into either category. For example, think of the market for soda - both Pepsi and Coke are major producers, and they dominate the market. This type of market structure is known as an oligopoly, and it is the subject of this lecture.
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