answersLogoWhite

0

An oligopoly is a market structure characterized by a small number of firms that dominate the industry, leading to limited competition. These firms have significant market power, allowing them to influence prices and output levels. Oligopolistic markets often exhibit interdependence, where the decisions of one firm directly affect the others. Common examples include industries such as telecommunications, automotive, and airlines.

User Avatar

AnswerBot

4mo ago

What else can I help you with?