It is for this reason that economists decide whether or not to classify any particular market as an oligopoly by counting the number of firms: this provides a recognisable, objective and measurable criterion for classification, whereas the awareness of mutual interdependence of sales, purchase, ...
An oligopoly is characterized by a small number of sellers who dominate an entire market. Like the more commonly heard of term ‘monopoly’, the term oligopoly is derived from the Greek wordsoligoimeaning ‘few’, andpoleinmeaning ‘to sell.’ ...
2英译汉!字数不多!重谢!An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists).Because there are few participants in this type of market,each oligopolist is aware of the actions of the others.The decisions of one firm infl...
The terms "monopoly" and "oligopoly" refer to the number of sellers of products or services in a defined target market or geographic region. Amonopoly exists when consumers can only purchase products or services from a single provider, which allows the company to set prices without concern for ...
The terms "monopoly" and "oligopoly" refer to the number of sellers of products or services in a defined target market or geographic region. Amonopoly exists when consumers can only purchase products or services from a single provider, which allows the company to set prices without concern for...
Oligopoly Market: 1. Few numbers of sellers. 2. Huge investment is required to enter the market. 3. Large market share to each firm 4. Firms in... Learn more about this topic: Perfectly Competitive Market | Overview & Characteristics ...
oligopoly Oligopoly 国际商务师范2班 邓丽晖2010205144148 Oligopoly, the economist’s analogue to oligarchy in political science, is defined as a market situation where independent sellers are few in number. The central analytical problem with which the theory of oligopoly is concerned is how each of ...
OligopolyOligopolyis amarketstructure in which a small number of sellers are opposed to a lot of buyers‚ ie the situation when themarketseveral vendors and each may affect the rates. The emergence of new vendors is difficult or even impossible e. If the producers are two‚ then a duopoly...
As Number of Sellers Rises As the # of sellers in an oligopoly rises, the market looks more like a competitive market Price approaches marginal cost & quantity approaches the socially efficient level 3 Different Equilibriums (note: in this example MC = 20) Cost $120 120 MC MR In a competi...
•TypesofImperfectlyCompetitiveMarkets •Oligopoly •Onlyafewsellers,eachofferingasimilaroridenticalproducttotheothers.•MonopolisticCompetition •Manyfirmssellingproductsthataresimilarbutnotidentical.Copyright©2004South-Western Figure1TheFourTypesofMarketStructure NumberofFirms?ManyfirmsTypeofProducts?Onefirm...