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In this assignment, you are going to find some examples of oligopoly. Oligopoly refers to an...

In this assignment, you are going to find some examples of oligopoly.

Oligopoly refers to an industry which is dominated by just a few companies. An example of oligopoly is the industry of cell phone operating system, which is dominated by Android and IOS.

In this assignment, find three examples of oligopoly, and briefly discuss the reasons why oligopoly arises in those industries. NEED 3 EXAMPLES.

SAMPLES EXAMPLE:

Computer Operating Systems

Microsoft's Windows, Apple's Mac OS and the open-source Linux operating system capture close to 100 percent of the computer operating system market

Reasons for the oligopoly:

Customers are so used to those operating systems and it is difficult for them to switch.

All other software providers make programs that are compatible with these three systems, which make the users of those software programs more difficult to switch to other operating systems.

Pharmaceutical Industry

The drug business is controlled by just a handful of companies, including Pfizer, Merck and Novartis.

Reasons for the oligopoly:

The government grants those companies extended patents on their drugs, and these patents protect drug developers from competitors for many years.

It can cost more than $1 billion to develop a new drug.

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Homework Answers

Answer #1

1) customers are used to those operating system and it difficult for them to switch

The Brand name enjoyed by the firm held them to increase the market share and difficult to another firm to enter the market with a new name and difficult to capture market because consumers are not ready to buy the new firm product.

2) The reason for the existence of the Oligopoly market is patent rights enjoyed the firm these right protect their innovation and idea and it is difficult for another firm to start or develop the same product with that names thse patent rights helps firms to enjoy brand name and capturing large market shares.

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