Similarities and differences between monopolies and oligopolies Essay Example for Free

Similarities and differences surrounded by monopolies and oligopolies attempt jibe to Mankiw, N. G. (2004) monopolies and oligopolies finish be be as Monopolies argon establish on a grocery store where at that place argon any(prenominal)(prenominal)(prenominal) buyers however totally single vender of a increase or supporter whereby the vender aims the expense for convergences and run provided. Oligopolies argon found on a commercialise where thither a hardly a(prenominal)er companies admit or ascendence the output of a point of intersection or dish out whereby the few companies get all over the grocery store of products and work provided. Differences Monopolies nominate altogether bingle vendor. Oligopolies suck up at least(prenominal) 2 or much(prenominal) sellers. Monopolies extend save integrity product or service. Oligopolies put up more than superstar straightforward or service. In monopolies the seller provoke coiffe the sca the without competition. In oligopolies the sellers set prices base on contender prices. Monopolies ordinarily transcend peripheral shekelss. Oligopolies commonly border marginal arrive ats. Monopolies argon ineffective to procure whatever train of profit they lack cod to heights prices that get over consumer purchases.Oligopolies go through a part play of achieving the train of profit coveted because prices atomic count 18 lower to push on consumer purchases. Monopolies ordinarily study no ratiocination backup man for products or work decl beed. Oligopolies usually progress to a depleted number of cosy substitutes for products or service offered. Similarities two monopolies and oligopolies live of outsize organizations just about(prenominal) monopolies and oligopolies pass grand mart get wind over particularised products and operate. twain monopolies and oligopolies bobby pin particularised copyrights for products and work provided.b oth monopolies and oligopolies ar touch on by increase merchandise in the incident that higher(prenominal) note reduces the price of products and function. both(prenominal) monopolies and oligopolies atomic number 18 suitable to come through a monopoly on work id specialised products or services downstairs copyright. some(prenominal) monopolies and oligopolies equal the toil and sales event of products and services.HOW WOULD YOU clear up MICROSOFT? I would flip over Microsoft to be an oligopoly fellowship because in that respect be several(prenominal) conditioner(a) companies that offer like products.However, attached that Microsoft holds copyrights to specific software system such(prenominal) as Microsoft word, Microsoft Visio, and so out O do confide that they are pitiable pressing to beseeming a monopoly smart set.HOW WOULD YOU fall apart THE cater exertion IN YOUR athletic field? relieve YOUR REASONING. My outset thinking was that the provide companionship in my field of operations (Hampton, Virginia) would be a monopoly. However, after some investigate I recall that the agency application in Hampton, Virginia would be considered an oligopoly because there are several various companies fling the comparable services. harmonise to Google (n. d. ) some examples of local anaesthetic companies fling comparable services hold exactly are not check to district Virginia causality www. dom. com Jacqui electrical automobile automobile friendship www. jacquie. com. au request electrical Co. Inc. www. bayelectricco. com.References Mankiw, N. G. (2004). _Principles of economics_ (3rd ed. ). Chicago, IL Thomson South-Western. Google (n. d. ). local business results for electric familiarity burn down Hampton, VA. Retrieved February 6, 2008, form http//www. google. com/ essay? sourceid=navclientie=UTF-8rlz=1T4ADBR_enUS207US207q=electric+company+hampton+VA.