Oligopoly: Price and Non-Price Competition in Oligopoly I A Level and IB Economics

In this session we review the economics of price and non-price competition in an oligopoly. This is one of the most important market structures that you can study and one that is tested frequently in exams. #aqaeconomics #ibeconomics #edexceleconomics #oligopoly #economics Timestamps 0:00 Introduction - What is an Oligopoly? Examples: UK coffee shops, snack foods, car insurance 2:18 Key characteristics of an oligopoly market structure 4:15 Strategic interdependence in oligopoly 5:09 Main aspects of non-collusive competition in oligopoly 6:19 Causes of price wars in oligopoly 11:00 Applying game theory to price wars and price collusion within an oligopoly 14:05 Kinked demand curve and price competition in oligopoly 17:58 Will price-cutting benefits in an oligopoly?