The opposite of oligopoly (where there are few sellers in a market), is a market in which there are only a few large buyers for a product or service. This is called a Oligopsony and usually allows the buyers to exert a great deal of control over the sellers, often resulting in the depression of prices.
Examples would be world commodity markets in agricultural crops such as coffee were a few international intermediaries are able to trade the multitude of producers off against one another in order to extract cheap resources.
what are the advantages of oligopoly? what are the advantages 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.
the difference between perfect and imperfect oligopoly
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.
in oligopoly what is the nature of price elasticity
the market for a commodity is dominated by a few firms each of which producing a considerable proportion of the total output of the industry. Oligopoly is of two types: Pure oligopoly and differentiated oligopoly. If the product of the various firms is homogeneous, we call it pure oligopoly. Examples of pure oligopoly are found in such industries as sugar
Tel me also advantages and disadvantages of Oligopoly?
what is non collusive model of oligopoly
a pure oligopoly is when few producers dominate the production of on item
I will probably say its more of oligopoly.
Oligopoly is a market with small number of buyers and sellers.
why the car market is dominated in European union by oligopoly
In a pure oligopoly the products that are sold are homogeneous (the same e.g. gold, steel etc). While in a impure oligopoly the product that are sold are heterogeneous (different, think tablets, smart phones etc.).
Oligopoly competition means there are few sellers. They sell homogeneous products in the market for getting maximum profits. The mr=mc in the case of oligopoly competition.
If in an oligopoly market, the firms compete with each other, it is called a non-collusive, or non-cooperative oligopoly. If the firm cooperate with each other in determining price or output or both, it is called collusive oligopoly, or cooperative oligopoly. Collusive oligopoly exists when the firms in an Oligopolistic market charge the same prices for their products, in affect acting as a monopoly but dividing any profits that they make. Non collusive oligopoly exists when the firms in an oligopoly do not collude and so have to be very aware of the reactions of other firms when making price decisions.
No, it is not.
An oligopoly is characterized by a market with a few firms having a negligible effect on price.