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A market is an oligopoly when a small number of sellers dominate a market or industry. Economists use a set of criteria to determine whether a market form is an oligopoly. These criteria include profit maximization conditions, ability to set price, high barriers to market entry, a small number of firms, long-run abnormal profits, product differentiation, perfect knowledge of cost and demand functions, interdependence on other firms' marketing strategies, and non-price competition.
Wiki User
∙ 10y ago
Wiki User
∙ 10y agoEconomists usually call an industry an oligopoly if the four largest firms produce at least 70-80 percent of the output . You're welcome ~
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Is comcast a monopoly or oligopoly market structure?
Oligopoly
Which is the market structure of the media industry?
Market structure of the media industry: Oligopoly
Price wars are prima facie evidence of what economic market?
Oligopoly
Can you use oligopoly in a sentence?
Oligopoly is a market with small number of buyers and sellers.
What is the meaning of the word 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.
Is comcast a monopoly or oligopoly market structure?
Oligopoly
Which is the market structure of the media industry?
Market structure of the media industry: Oligopoly
What is market structure in the media industry?
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.
Price wars are prima facie evidence of what economic market?
Oligopoly
Can you use oligopoly in a sentence?
Oligopoly is a market with small number of buyers and sellers.
What is the meaning of the word 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.
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.
Is an oligopoly market structure the most efficient market structure?
no it is not
What kind of market structure is gm?
The market structure is called oligopoly. Oligopoly is a market structure characterized by a small number of relatively large firms that dominate an industry.
What are characteristics of oligopoly?
An oligopoly is characterized by a market with a few firms having a negligible effect on price.
Are Facebook and Myspace are market an Oligopoly?
Yes they are
