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LSDefine

Simple English definitions for legal terms

oligopoly

Read a random definition: court roll

A quick definition of oligopoly:

OLIGOPOLY: When a few big companies control a market, they can charge high prices and produce less, similar to a monopoly. This is called an oligopoly. It's like playing a game of poker with multiple players, where they can work together to make more money instead of competing against each other.

A more thorough explanation:

An oligopoly is a market structure where a few large companies dominate the market, leading to high prices and low output, similar to a monopoly. Unlike a monopoly, there are multiple companies in an oligopoly, but they work together to control the market. This can make it difficult for new companies to enter the market and compete.

For example, the airline industry is an oligopoly. A few large airlines, such as Delta, United, and American, dominate the market and control prices. They work together to limit the number of flights and seats available, which keeps prices high. This makes it difficult for smaller airlines to enter the market and compete.

Another example is the soft drink industry. Coca-Cola and PepsiCo are the two largest companies in the industry and control a significant portion of the market. They work together to set prices and limit competition from smaller companies.

These examples illustrate how an oligopoly can lead to high prices and limited competition, which can be harmful to consumers. It is important for governments to regulate these markets to ensure fair competition and protect consumers.

oligopolistic price coordination | oligopsony

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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