Eco Market Structure

Eco Market Structure - A lot of these companies sometimes...

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3/18/14 I decided to pick Exxon which works in the oligopoly market structure because there are only a few gas companies that distribute gas to customers. With companies like Exxon the competition usually triggers changes in the company. For example if there is an Exxon across the street from a BP and that BP decides to lower its prices than soon after you will see the Exxon do the same. This happens all over the market and forces the companies to change things constantly to keep up with the competition.
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Unformatted text preview: A lot of these companies sometimes seem like cartels because they are always doing whatever it takes to make themselves money. Unfortunately gas is something people have great dependency on so the companies have the power to raise the price as they feel necessary to gain profit. In this industry right now the leader is BP even after their disaster in the Gulf of Mexico. Exxon is not too far off however and is their greatest competition....
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