Characteristics of Oligopoly
- Most markets are imperfectly competitive
- Most imperfectly competitive industries operate in an oligopoly market structure
- E.g., Banks, insurance companies, department stores, supermarkets, petrol retailers, sport stores etc.
- E.g., Banks, insurance companies, department stores, supermarkets, petrol retailers, sport stores etc.
Characteristics Of an Oligopoly Market
High barriers to entry and exit | High concentration ratio |
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Interdependence of firms | Product differentiation |
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