Oligopoly In Australia

Monopolies, Duopoly and Oligopolies in Australia

The issue of the monopolies, duopoly and oligopolies in Australia. In this article is connected with this issue. Monopoly is oldest trick in the economics textbook to maximize profits than annihilating competitors and creating monopolies. Due to the monopolies, duopoly and oligopolies in bank interest rates, grocery prices, petrol prices, and telecommunications. Consumers are suffering due to price hike. There is lack of competition in the market. There is monopoly of the TELSTRA in telecommunications network.

There is the cosy duopoly between the supermarket giants Coles and Woolworths. The petrol retailers and banks are excellent examples of the oligopolistic markets. Monopoly and oligopolistic structure has allowed sellers to become price makers. The problem of monopoly is that the products are produced in the fewer amounts because the prices are high enough so that the consumer cannot use them in the amount they like. It’s the job of the government to control the monopoly. It does this by setting the price Telstra charges the competitors. It can also control by taking control of the

Antitrust laws and regulations are placed to discourage monopolistic operations – protecting customers, keeping out practices that limit trade and ensuring a marketplace remains open and spirited. (Investopedia, 2017) there are many cases in this news article like monopoly of the Telstra . Telstra is considered to have a near monopoly over telecommunications infrastructure; Telstra owns the main copper wire network used to transmit telephone calls and internet services. So the competitors have to buy from the them allowing them to control the price as they