no it is not
Monopoly means an absolute power to produce and sell a product which has no close substitution. Oligopoly means a few sellers sell differentiated or homogeneous products. e g automobile industry
AR=MRnormal profits in the long runlarge number of sellersfree entry and excit ,as there are no barriersthe seller is only the price takerperfectly elasticeach firm is a part of the industry
At profit maximization, marginal cost equals marginal revenue. Price will be higher than marginal cost.
Monopoly
A true duopoly is a specific type of oligopoly where only two producers exist in one market. In reality, this definition is generally used where only two firms have dominant control over a market. In the field of industrial organization, it is the most commonly studied form of oligopoly due to its simplicity.
Monopoly means an absolute power to produce and sell a product which has no close substitution. Oligopoly means a few sellers sell differentiated or homogeneous products. e g automobile industry
AR=MRnormal profits in the long runlarge number of sellersfree entry and excit ,as there are no barriersthe seller is only the price takerperfectly elasticeach firm is a part of the industry
http://www.answers.com/library/Investment%20Dictionary-cid-57121 Oligopoly A situation in which a particular market is controlled by a small group of firms.An oligopoly is much like a monopoly, in which only one company exerts control over most of a market. In an oligopoly, there are at least two firms controlling the market.Investopedia Says:The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market.
A true duopoly is a specific type of oligopoly where only two producers exist in one market. In reality, this definition is generally used where only two firms have dominant control over a market. In the field of industrial organization, it is the most commonly studied form of oligopoly due to its simplicity.
The most fuel efficient vehicles on the market today are usually hybrids. However, many small and economy sized vehicles on the market are not hybrids but are very fuel efficient as well.
At profit maximization, marginal cost equals marginal revenue. Price will be higher than marginal cost.
Monopoly
Monopoly
A true duopoly is a specific type of oligopoly where only two producers exist in one market. In reality, this definition is generally used where only two firms have dominant control over a market. In the field of industrial organization, it is the most commonly studied form of oligopoly due to its simplicity.
SunPower and Sanyo Electric produce the 50 most efficient solar panels available on the market today.
Perfect Competition
Pure competition-Online auctioning Monopoly-Water and sewer service Monopolistic competition-Video rental stores Oligopoly-Digital camera makers