Explain an Oligopoly?
Submitted by: AdministratorOligopoly is a market where the supply is controlled by a small group of companies. In this condition, the actions of one company will have a material effect on the entiremarket for a product.
Several characteristics of an Oligopoly:
1) Substantial barriers to entry
2) Market dominated by a few large firms
3) Differentiated products
4) Price rigidity
Submitted by: Administrator
Several characteristics of an Oligopoly:
1) Substantial barriers to entry
2) Market dominated by a few large firms
3) Differentiated products
4) Price rigidity
Submitted by: Administrator
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