Question

So which example was easier to find: perfect comp or oligopoly?

Answer 1

In the economic terms, Perfect competition refers to equilibrium point of rate of quantity supplied through proper movement of Goods and Services in every step by step process in the market situation. Here the main features like efficient allocation and productive advantage of perfect competition reflects when Marginal Cost equals Average Revenue at equilibrium point. Likewise, Oligopoly refers to the competition in which small number of firms compete with each other by producing differential products. Unique feature of Oligopoly follows the strategic planning in which few firms compete with each other. Management Decision factors of various firms influence each other. Let us discuss the easier example to identify which type of competition.

Unless finding the fine example of perfect competition, example of Oligopoly is the east step for consideration. In US Country, National Mass Media and news outlets are the fine example of Oligopoly.  Such Media and Outlets are 90% owned by prominent corporations like Walt Disney, Time Warner, CBS Corporation, Viacom, NBC Universal and News Corporations. The business practice of Mass media depends upon the respective trade policies without or with few restrictive measures which in turn controls the opponent business growth. The Federal Communication Commission (FCC) Act of 1934 regulates the activities of all Mass Media and other Journalist Sources in unethical way. If so such business ventures are penalized by the commission. Also this commission supports Oligopoly competition among the firms related to Media Exposure business. But if firms follows the procedures of FCC Act, It can enjoy the Oligopoly situation without affecting the sales margin of all firms.