Explain an oligopoly, Accounting Basics

Oligopoly is a market where the supply is controlled by a little group of companies. In this condition, the actions of single company will have a material effect on the entire market for a product.


Various characteristics of an Oligopoly:

1) Substantial barriers to entry

2) Market dominated by a few large firms

3) Differentiated products

4) Price rigidity

 

Posted Date: 4/1/2013 6:24:33 AM | Location : United States







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