Understanding Oligopoly Dynamics

Welcome to OLIGOPOLY, aka “When a market is basically a group project with only

3 people and everyone hates each other.” Oligopoly = a market with a FEW sellers, each with enough

power to ruin the vibe for everyone else. Think: Airlines

Phone companies Cereal brands Gas stations Any industry where you’re like,

“Why do these all feel the same but also all overpriced??” Yeah. Oligopoly.

Why is it spicy? Because every firm’s decision affects every OTHER firm. It’s like that one

friend group where the moment someone changes plans, the whole squad implodes.

If one airline raises prices? The others watch. If they lower prices? Everyone PANICS.