ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An oligopoly market is a market structure that is characterized by the existence of few but large sellers. In this market, products may be differentiated or they may not be differentiated. In addition, there are high barriers to entry and exit from the market.

Detailed explanation-2: -Entering Oligopolistic Markets It is primarily due to two significant factors: strong competition from well-established and successful large firms that dominate the space and their competitive and wide-ranging product and service offerings, including premium and mass market.

Detailed explanation-3: -There are significant barriers to entry, including high startup costs. An oligopoly is when there are two or more firms that have a significant market share. In such a market, entry costs are high which makes it difficult for new companies to enter.

Detailed explanation-4: -An oligopoly is defined as a market structure with few firms and barriers to entry. Oligopoly = A market structure with few firms and barriers to entry. There is often a high level of competition between firms, as each firm makes decisions on prices, quantities, and advertising to maximize profits.