What are advantages of oligopoly to consumers?

Answer 1

what are the advantages of oligopoly? what are the advantages of oligopoly?

Answer 2

Oligopolies are characterized by a small number of suppliers(but greater than one). Those suppliers would tend to be very large, and can keep out new competitors, along with their new ideas, new products and competitive pricing.

The advantage is that it allows for greater efficiency through standardization, economies of scale (for production and new product development), and avoidance of a monopoly.

Answer 3

The advantages of oligopolies or oligopolistic competition are

1. Oligopolies may adopt a highly competitive strategy, in which case they can generate similar benefits to more competitive market structures, such as lower prices. Even though there are a few firms, making the market uncompetitive, their behaviour may be highly competitive.
2. Oligopolists may be dynamically efficient in terms of innovation and new product and process development. The super-normal profits they generate may be used to innovate, in which case the consumer may gain.
3. Price stability may bring advantages to consumers and the macro-economy because it helps consumers plan ahead and stabilises their expenditure, which may help stabilise the trade cycle.

Answer 4

what are the advantages of oligopoly? what are the advantages of oligopoly?

Answer 5

Advantages: Some control over price, market knowledge.