ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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market structure in which only a few large sellers dominate and have the ability to affect prices in an industry
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market structure having all conditions of pure competition except for identical products
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market structure in which a firm has a monopoly because of its location or the small size of the market
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monopoly created and or owned by the government
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Detailed explanation-1: -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. Oligopolies often result from the desire to maximize profits, which can lead to collusion between companies.
Detailed explanation-2: -OLIGOPOLY-is a market structure in which a few large sellers dominate the industry. Interdependent Behavior-collusion, price-fixing Each oligopolist knows that the other firms in the industry have considerable power and influence over consumer choices.
Detailed explanation-3: -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-4: -Oligopoly is a market in which:-Few very large sellers dominate the industry and compete with one another.
Detailed explanation-5: -Oligopoly means few sellers. In an oligopolistic market, each seller supplies a large portion of all the products sold in the marketplace. In addition, because the cost of starting a business in an oligopolistic industry is usually high, the number of firms entering it is low.