answersLogoWhite

0

An oligopoly situation manifests when a market is dominated by a small number of firms, leading to limited competition. These firms often produce similar or identical products, which allows them to influence prices and market conditions collectively. Characteristics of oligopoly include interdependence among firms, barriers to entry for new competitors, and the potential for collusion to maximize profits. This market structure can result in higher prices and reduced consumer choice compared to more competitive markets.

User Avatar

AnswerBot

2mo ago

What else can I help you with?

Related Questions

Is sainsbury's monopoly or oligopoly?

Oligopoly!


Is asda a monopoly or oligopoly?

oligopoly


Is airline industry a oligopoly or monopolistic?

Oligopolistic


Is comcast a monopoly or oligopoly market structure?

Oligopoly


What are some example of opligopoly?

http://www.answers.com/library/Investment%20Dictionary-cid-57121 Oligopoly A situation in which a particular market is controlled by a small group of firms.An oligopoly is much like a monopoly, in which only one company exerts control over most of a market. In an oligopoly, there are at least two firms controlling the market.Investopedia Says:The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market.


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.


A situation where there are a few large firms and any change in one firm's output or prices will affect the whole market is known as?

oligopoly (study islands)


What is the difference between cartel and oligopoly?

Monoply is a situation in which a single person or individual or a business dictates the whole system and people are dependent only on that single individual or business.While cartel is a situation where a group of businesses or companies work hand in hand instead of competing with each other to benefit themselves and not the consumer.In both conditions the consumer is the looser.


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.


Is kmart a oligopoly business?

Kmart operates in the retail sector, which is characterized by a mix of competitive dynamics, including elements of both oligopoly and competition. While Kmart competes with other large retailers like Walmart and Target, the presence of many smaller stores and online retailers means it does not strictly fit the definition of an oligopoly. Instead, it is part of a competitive market with a few dominant players. Overall, Kmart's market situation is better described as part of a competitive landscape rather than a true oligopoly.


What is Pure Oligopoly?

a pure oligopoly is when few producers dominate the production of on item