Oligopoly

Split students into groups of three. Explain that they are in competition with each other to price the same good. They have a choice to price the good at $3.00 or $4.00. Within the groups, have the students discuss what they are going to do. Let them know ahead of time that if everyone in the class puts a four, everyone will receive 5 bonus points. If only one person puts a three, that person has captured the market and will get 20 bonus points, while the rest of the class gets nothing. If more than one person puts down a three, those students get three bonus points and the rest of the class gets nothing.

--Cari Sonnenburg, stolen from Mr. Bob Quinn