Price and Non-Price Competition in Oligopoly

In this revision video we review the economics of price and non-price competition in an oligopoly.

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?