What is an oligopoly?, Macroeconomics

Oligopoly is a marketplace where the deliver is controlled by a small group of companies. In this condition, the actions of single company will have a material effect on the whole 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 3:37:07 AM | Location : United States

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