What is oligopoly, Managerial Economics

What is Oligopoly?

Oligopoly is a general market structure. This arises from similar forces that lead to monopoly, except within weaker form. This is an industry along with only a tiny number of producers. A producer into this industry is termed as an oligopolist.

While no one firm has a monopoly, although producers however realize that they can influence market prices, an industry is described by imperfect competition.

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