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Definition of oligopoly noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Oligopoly definition: . See examples of OLIGOPOLY used in a sentence.
Oligopoly markets usually remain interdependent, which means they are continually monitoring the actions of the other firms before making any decisions within their firm. Read Oligopoly | Definition, Types & Examples Lesson Recommended for You Video: Oligopoly Meaning, Characteristics & Examples Video:...
An oligopoly is a collection of multiple companies in the same industry working together to fix prices to ultimately earn higher profits and discourage lower prices. The market power of an oligopoly is such that it bars entry to new firms, limiting compe
An oligopoly is an economic market whereby a small number of companies or countries generate and control the entire supply of a good or service.
There is price-rigidity because firms fear that any price change will trigger price war. Concentration Ratio and HHI An oligopoly is sometimes defined as a market with a small number of firms. But this definition assumes that many niche producers are not part of the market. For example, Roger...
An oligopoly is characterized by a few firms that have control over the price and output level of a market. Explore the definition and examples of...
Q1. What’s the difference between cost leadership and price leadership? Answer:Though these two words are used together, their meaning differs. Price leadership focuses on offering the lowest prices among competitors, while cost leadership aims to have the lowest operating costs. Thus, the cost ...
Example of an Oligopoly A good way to understand the oligopoly definition is to think of major brands, such as Pepsi or Coca-Cola. These two dominate the soft drink market and sell similar products. They have been competing against each other for decades. Over the last 10 years, Pepsi's ...