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What is the meaning of the word oligopoly?

Updated: 8/22/2023

Elosery ∙

Lvl 1

∙ 13y ago

Best Answer

An oligopoly is an intermediate market structure between the extremes of perfect competition and monopoly. Oligopoly firms might compete (noncooperative oligopoly) or cooperate (cooperative oligopoly) in the Marketplace.

Wiki User

∙ 15y ago

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Wiki User

∙ 13y ago

-nounthe market condition that exists when there are few sellers, as a result of which they can greatly influence price and other market factors.

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Continue Learning about Economics

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oligopoly

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Oligopoly!

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Oligopolistic

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Related questions

Is asda a monopoly or oligopoly?

oligopoly

Is sainsbury's monopoly or oligopoly?

Oligopoly!

Is comcast a monopoly or oligopoly market structure?

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Is airline industry a oligopoly or monopolistic?

Oligopolistic

What is the price elasticity in a oligopoly?

in oligopoly what is the nature of price elasticity

What are the types of oligopoly?

Oligopoly is a market from where large numbers of buyers contact few sellers for the purpose of buying and selling things. The different types are a pure oligopoly, a differentiated oligopoly, a collusive oligopoly, and a non-collusive oligopoly.

What is meant by market structure?

An oligopoly is an intermediate market structure between the extremes of perfect competition and monopoly. Oligopoly firms might compete (noncooperative oligopoly) or cooperate (cooperative oligopoly) in the Marketplace.

What is another word for monopoly?

Lets see: trust, corner, syndicate, cartel, oligopoly, copyright, patent.

What is the meaning of basic market models?

the meaning of market models is competition derived from pure competition meaning many sellers, monopolistic competition meaning most sellers, oligopoly competition meaning few sellers and pure monopoly meaning one seller.

Price wars are prima facie evidence of what economic market?

Oligopoly

Is a Gas station with convenient store a oligopoly?

I will probably say its more of oligopoly.

Can you use oligopoly in a sentence?

Oligopoly is a market with small number of buyers and sellers.

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