Oligopolies

Description

Competition with General Motors eventually rendered Ford's single-option Model-T obsolete. In 1959, a reporter for the Knoxville News-Sentinel discovered a price-fixing scandal between three big-name electric companies in each of their closed bids to the Tennessee Valley Authority. In the late 1970s, President Jimmy Carter ordered Professor Alfred Kahn to deregulate the airline industry, which had been a federally protected oligarchy. These are all examples of oligopolies and the forces that influence them.

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27 min 49 sec

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