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- Oligopoly is a market structure with a small number of sellers and each seller is required to take into account rivals’ current actions and likely future responses to rivals' actions1. It is a situation where a small number of companies own or control the production of a particular good or provision of services within a market economy12. Oligopoly is defined as a market situation where independent sellers are few in number3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
Sociology Index. OLIGOPOLY. Recognised interdependence is the hallmark of oligopoly. Oligopoly is the situation where a small number of companies own or control the production of a particular good or provision of services within a market economy. Oligopoly is a market structure with a small number of sellers and each seller is required to take into account rivals’ current actions and likely future responses to rivals' actions.
www.sociologyindex.com/oligopoly.htmAn oligopoly (from Ancient Greek ὀλίγος (olígos) 'few', and πωλέω (pōléō) 'to sell') is a market in which control over an industry lies in the hands of a few large sellers who own a dominant share of the market.en.wikipedia.org/wiki/OligopolyOligopoly, the economist’s analogue to oligarchy in political science, is defined as a market situation where independent sellers are few in number.www.encyclopedia.com/social-sciences-and-law/ec… - People also ask
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Oligopoly - Wikipedia
An oligopoly (from Ancient Greek ὀλίγος (olígos) 'few', and πωλέω (pōléō) 'to sell') is a market in which control over an industry lies in the hands of a few large sellers who own a dominant share of the market. Oligopolistic markets have homogenous products, few market participants, and inelastic … See more
Perfect and imperfect oligopolies
Perfect and imperfect oligopolies are often distinguished by the nature of the goods firms produce or trade in.
A perfect (sometimes called a 'pure') oligopoly is where … See moreSome characteristics of oligopolies include:
• Profit maximisation
• Price … See moreThere is no single model that describes the operation of an oligopolistic market. The variety and complexity of the models exist because numerous firms can compete on the … See more
Economies of scale
Economies of scale occur where a firm's average costs per unit of output decreases while the scale of the firm, or the output being produced by … See moreOligopolies are assumed to be aware of competition laws as well as the repercussions that they could face if caught engaging in anti-competition behaviour. In lieu of … See more
Many industries have been cited as oligopolistic, including civil aviation, agricultural pesticides, electricity, and platinum group metal mining. In most countries, the telecommunications sector is characterized by an oligopolistic market structure. See more
Wikipedia text under CC-BY-SA license Oligopoly Definition & Meaning - Merriam-Webster
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