Are cinema chains in Singapore oligopolies? If so, what are their characteristics?
Yup, they are. -There are a small number of dominant firms. For example, Golden Village, Cathay etc. & they have quite a significant amount of market share. -Products can be homogeneous or differentiated. Like, they offer approximately the same kinds of movies. But maybe they differentiate themselves in terms of packages. Maybe, there is some sort of bundling of movie tickets with popcorn and drinks at a cheaper price. Or better sound systems in the theatre. – I think there’s mutual interdependence too. Because cinema tickets across Singapore are generally approximately the same.
