ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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monopoly/collusion
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monopolistic competition/collusion
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oligopoly/collusion
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oligopoly/price wars
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Detailed explanation-1: -Oligopoly markets are markets dominated by a small number of suppliers. They can be found in all countries and across a broad range of sectors. Some oligopoly markets are competitive, while others are significantly less so, or can at least appear that way.
Detailed explanation-2: -Oligopoly. An oligopoly is dominated by a few firms, resulting in limited competition. They can collaborate with or compete against each other to use their collective market power to drive up prices and earn more profit. Entering into an oligopoly is difficult.
Detailed explanation-3: -An oligopoly is when a few companies exert significant control over a given market. Together, these companies may control prices by colluding with each other, ultimately providing uncompetitive prices in the market.
Detailed explanation-4: -Oligopoly, in which a market is by a small number of firms that together control the majority of the market share. Duopoly, a special case of an oligopoly with two firms. Monopsony, when there is only one buyer in a market.
Detailed explanation-5: -An oligopoly (from Greek , oligos “few” and , polein “to sell") is a market structure in which a market or industry is dominated by a small number of large sellers or producers.