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What do you call a company that competes with a small number of competitors in a market?
Wiki User
∙ 15y ago
If the company is powerful enough that it has a lot of power over customers, while the competitors have no power over customers, then you can call that company a monopoly.
If the company works with its smaller competitors to shut other competitors out of the market, then those companies are part of an oligopoly.
Two companies working together to control a market are a duopoly.
The opposite of these are monopsonies and oligopsonies, which occur when there is only one buyer, or only a few buyers.
All these -opolies and -opsonies are part of an imperfect market.
If the large company doesn't fit into any of those imperfect market categories, then the company is part of a normal market, is simply called the market leader.
Wiki User
∙ 15y ago
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Economic profits result whenever only a few large competitors are active in a given market?
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