Question about monopolies

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Anonymous
Question about monopolies 2017-02-26 09:58:46 Post No. 1820802
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Question about monopolies Anonymous 2017-02-26 09:58:46 Post No. 1820802 [Report]

I'm a bit interested in economics, and I also happen to enjoy playing some Star Wars the Old Republic on the weekends. (WoW with a star wars skin, basically.). My pals and I earn money in the game by farming bulk amounts of resources and selling them in stacks of a hundred in the auction house. Our biggest problem was the annoyance of people undercutting us by small margins to get the top market listing. I thought about this and decided that we should make a guild based around the concept of creating a virtual materials monopoly. The plan is to have everyone in the guild sell their respective materials at a uniform price established by whoever sells the first stack. If anyone tries to undercut our price, we buy them out. If the competitor is selling too much to buy out realistically, we PM them and tell them about our plan and from what I've experienced they almost always join up with us to keep our plan going. I got my friends plus a few recruits to do this and together we successfully raised the unit price of a material by a good amount. My question is: Has this ever been done on a larger scale in real life? If so, has it ever worked?

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Anonymous 2017-02-26 10:01:32 Post No.1820808
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Anonymous 2017-02-26 10:01:32 Post No.1820808 [Report]

It's called a cartel.

Anonymous 2017-02-26 10:26:38 Post No.1820852
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Anonymous 2017-02-26 10:26:38 Post No.1820852 [Report]

>>1820808
This
The Seven Sisters oil cartel would be a good example.

Anonymous 2017-02-26 10:38:41 Post No.1820865
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Anonymous 2017-02-26 10:38:41 Post No.1820865 [Report]

>>1820802
>we successfully raised the unit price of a material by a good amount
if you have managed to raise a price of a good by good amount, they major problem is going to become selling all the excess reserves because the price will probably fall, if it doesnt, GJ

Anonymous 2017-02-27 02:27:46 Post No.1821944
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Anonymous 2017-02-27 02:27:46 Post No.1821944 [Report]

>>1820802
Cartels are generally illegal when companies cooperate to gain maximum profit. But OPEC comes to mind as a cartel which operates between all the gulf states and a few others, they control about 80% of the worlds oil.

You need to make sure you are charging the profit maximising price for your goods, so the (Quantity)X(Price)=the biggest number you can get

Anonymous 2017-02-27 03:43:54 Post No.1822077
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Anonymous 2017-02-27 03:43:54 Post No.1822077 [Report]

>>1821944
>they control about 80% of the worlds oil.
try 37%

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