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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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Managerial Economics helps create utility for the Society.
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