The case for oligopolies

An oligopoly is the most likely market structure to promote consumer welfare as it is likely to deliver the lowest prices. Oligopolies are made up of big firms who have greater economies of scale than firms in perfect or monopolistic competition. This means they can keep production costs lower and charge lower prices. Even though there are only a few firms in the market, if … Continue reading The case for oligopolies

Power lines at sunset

To burn or not to burn? Fuelling the future

The European Union has set the target for the energy consumption of all it’s member states to be 20% renewable by 2020. While currently Brexit is being negotiated, in 2015, the UK was given its own special target of 15% because of it’s its “low starting point”. The UK Great Britain has consistently lagged behind its European counterparts, ranking 24th out of 28 neighbouring states … Continue reading To burn or not to burn? Fuelling the future