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The definition of monopoly is one firm in the marketplace selling a particular good. An oligopoly is when a small group of firms comprise the market for a particular good. In the real world, there may be several, or even many, smaller competitors to a monopoly or an oligopoly, but the monopolist or the oligopoly still controls the vast share of the market. For example, Standard Oil repeatedly drove new entrants out of the market before its breakup.
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∙ 15y ago
Wiki User
∙ 12y agoA monopoly is the exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices, while an oligopoly is a situation in which a particular market is controlled by a small group of firms.
Wiki User
∙ 13y agoMonopoly: one firm; large barriers to entry; monopoly pricing.
Oligopoly: a few firms; significant barriers to entry; different pricing methods (there are different models of oligopolies).
Wiki User
∙ 12y agoMonopoly: rule by one power.
Oligopoly: rule by a small group.
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∙ 12y agoMonopoly is a market in one seller and many buyers. While oligopoly is a market in which two seller and many buyers.
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∙ 13y agoMonopoly relates to one specific individual or an enterprise and duopoly means two companies/producers/suppliers.
Wiki User
∙ 12y agoNo diference
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How many 1's do you get for monopoly?
In the original version, 5.
How much money you get in monopoly?
You start with $1500 usually in 2 "$500s", 2 "$100's", 2 "$50's", 6 "$20's", 5 "$10'S", 5 "$5's", and 5 "$1's".
How are monopolies in the 1920's?
The Sherman Anti Trust and other anti-monopoly legislation tackled several businesses during the 1920s. For a period of time, even Major League baseball was targeted. Commonwealth Edison, which was owned by Samuel Insull, was a utility monopoly. The fight against this monopoly would lead to the Public Utility Holding Act legislation.
What 's the difference between British dollars and US dollars?
There is no such thing as the British dollar. The British currency is the pound (symbol '£'), divided into 100 pence.
What is the difference between a non-profit corporation and a non-profit association in Indiana?
Associations usually are 501 (c) 4s and charities are 501 (c) 3s. The difference is that 4's cannot accept charitable donations and 3s can.
Who had a monopoly between 1860's-1920's?
rockafeller (standard oil), carnegie(steel), vanderbilt(railroad)
What is difference between as and at tires?
difference between a/s and a/t tires
What is the difference between solipsism and solipcism?
What is the difference between a C; and an S?
What has the author Maxine Brady written?
Maxine Brady has written: 'Monopoly Book' -- subject- s -: Monopoly - Game - 'Bloomingdale's' -- subject- s -: Bloomingdale's - Firm -, History 'The monopoly book' -- subject- s -: Monopoly - Game -
What is the difference between Oxycontin and df1118?
what is the difference between oxycontin and df118's
What is difference between S Typhi O and S Typhi H?
There is a great difference between S Typhi O and H. The S Typhi O is somatic, and H is flagella.
What is the difference between a B A and a B S?
no answer
What is the difference between downward and downwards?
the s
What is the difference between congratulation and congratulations?
The 's'.
What is the difference between sibilant and alliteration of s?
no difference. sibilance is a subtype of alliteration.
What is the difference between the s in blunders and s in makes?
the s in blunders is plural and the s in makes is not
What is the difference between the -s in blunders and the -s in makes?
the s in blunders is plural and the s in makes is not
