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An oligopoly (from Ancient Greek ὀλίγος (olígos) 'few' and πωλέω (pōléō) 'to sell') is a market in which pricing control lies in the hands of a few sellers. [ 1 ] [ 2 ] As a result of their significant market power, firms in oligopolistic markets can influence prices through manipulating the supply function .
Oligopoly: The number of enterprises is small, entry and exit from the market are restricted, product attributes are different, and the demand curve is downward sloping and relatively inelastic. Oligopolies are usually found in industries in which initial capital requirements are high and existing companies have strong foothold in market share.
It contrasts with an oligopoly, where there are many buyers but few sellers. An oligopsony is a form of imperfect competition . The terms monopoly (one seller), monopsony (one buyer), and bilateral monopoly have a similar relationship.
The emergence of oligopoly market forms is mainly attributed to the monopoly of market competition, i.e., the market monopoly acquired by enterprises through their competitive advantages, and the administrative monopoly due to government regulations, such as when the government grants monopoly power to an enterprise in the industry through laws ...
As a result, industries with high barriers to entry often contain a monopoly or oligopoly with dominant power in terms of price. This dominance allows them to charge a higher price or, if other firms join the market, to use their market power and cash flow to lower prices, beating out the new competition.
Pages in category "Oligopoly" The following 12 pages are in this category, out of 12 total. This list may not reflect recent changes. ...
For the treatment centers, the revolving door may be financially lucrative. “It’s a service that rewards the failure of the service,” Johnson said. “If you are going to a program, you don’t succeed and you pay X-thousand dollars. When you fail, you go back — another X-thousand dollars. Because it’s your fault.”
Oligopoly: If the industry structure is oligopolistic (that is, has few major competitors), the players will closely monitor each other's prices and be prepared to respond to any price cuts. [8] Applying game theory, two oligopolistic firms that engage in a price war will often find themselves in a kind of prisoner’s dilemma. Indeed, if Firm ...