Oligopoly Market Vs Monopolistic Competition Market

Oligopoly Market Vs Monopolistic Competition Market

Oligopoly Market and Expected Market Behavior

An oligopoly is a market that has only a small number of firms. This event occurs when there are a small number of firms in the same sector, which dominate and have control over the market. A good example is provided by the oil industry in the United States, which, in recent years, only eight firms accounted for almost 60% of the refining capacity in the sector. One of the most common barriers to entry imposed by the oligopoly is the amount of money needed to ...