Oligopoly: Cartel and Collusion (Explicitly Explained) in 5 MINS | Microeconomics Lumist

[@annali9577]

I really like this video, intuitive and cute! more people should come and watch

[@namelessbecky]

Thank you. Very understandable

[@noemaesalvador4736]

very informative. thank you.

[@nepalgorkha8665]

5:07 didn't get it monopoly outcome here please someone elaborate me 🙏

[@inspo-zk2pv]

i noticed that your comment was 2yrs old but anyway i try make it simpler... firm 1 and firm 2 are actually two oligopolists. Meaning either they can cheat or cooperate. If firm 1 decides to cooperate with firm 2, there decisions are alike, this means they both get $10. But if firm 1 thinks firm 2 is an idiot and then he (firm 1) cheats and takes the advantage hence firm 1 will reduce its price to increase output for higher revenue, firm 2 will lose and will get only $ 6. and firm 1 getting $ 12
But what if firm 2 also cheats, firm 2 gets $ 12 but now firm 1 gets $6. Now firm 1 and firm 2 do not want to get $ 6, what will they do? They are currently both cheating, so both firms get $ 8 by implementing higher output and less price. BUT in conclusion it would be better if both firms cooperated for them to get $10 with low output. Someone confirm if im wrong but it's like that

[@Wolf-wp4qv]

My lecturer took 2 hours to explain this and I got non of that. Thank you for this.

[@avegaughtastiffy1654]

Perfect

[@sajjadesmaeili6845]

2:34 it is Iran flag and pronunciation is wrong

[@inspo-zk2pv]

it is just for an illustration, just get the main point. No need to feel frustrated.