aluminum, steel, electrical equipment, glass, breakfast cereals, cigarettes, and many others. Because the federal minimum wage is not indexed for inflation, its purchasing power (the number of goods that can be bought with a unit of currency) has dropped considerably since its peak in 1968. This shows that each brand is highly differentiated in the minds of the consumers. This is shown in Figure. According to Jupiter Media Metrix, a company that tracks Internet and technology analysis and measurement, the total number of companies that control 60 percent of all minutes spent online in the US dwindled 87 percent, from 110 in March 1999 to 14 in March 2001. 53 NBC News found that the price of a cup of coffee went up by 10 to 20 in Oakland, California, after a 36 minimum wage hike in the city.25. 223-224 (Emphasis is original) This concentrated power, Ben also points out, is so concentrated, ubiquitous, and artful, that to a degree unmatched in former mixtures of entertainment, it dilutes influences from family, schooling, and other sources that are grounded in real-life experience, weakening, their ability. The Berlusconi media would then cover these events,"ng members of parliament or the government, which, in turn, would give an appearance of substance and reality to their initial charges, which would lead to a new round of media stories and a new round. The firm having a good reputation in the market usually sets the price.
As a quantitative description of oligopoly, the four-firm concentration ratio is often utilized.
An oligopoly is a market condition in which the production of identical or similar products is concentrated in a few large firms.
Examples of oligopolies in the, united States include the steel, aluminum, automobile, gypsum, petroleum, tire, and beer industries.
(See this press release from them for more details.) They further point out that within the 14 companies, it is heavily skewed towards the top four. In the US, for example, it is very noticeable how competitive the media companies are between themselves. Prices remainingstable to a great extent, Sweezy suggested the kinked demand curve model for theoligopolists. Robert McChesney highlights this well: The pressure to become a conglomerate is also due to something perhaps even more profound than the need for vertical integration.
For example, if there is onlyone firm in the industry so that its market share is 100, H100210,000. This is done by considering the individual members of the cartel as one firm.e. As discussed earlier oligopolies can be classified on the basis of type of product produced. The Mousetrap; Inside Disneys dream machine is issue 308 from New Internationalist Magazine, December 1998. In February Comcasts 66 billion bid for Disney failed. The Heirfindahl index has become of greatpractical importance since 1982 when the Justice Department in the US announcednew guidelines for evaluating proposed mergers based on this fact, according to the theory of Contestable markets developed during the1980s, even if an industry has a single firm. The Nation magazine captures the consequence of this quite well, looking at the situation in the United States: Of all the media cartels dangerous consequences for American society and culture, the worst is its corrosive influence on journalism. Disney is well regarded for providing wholesome family entertainment, with numerous films, cartoons/animation movies and.