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Tag - Emergence of Oligopoly in Economics

Emergence of Oligopoly in Economics

Emergence of Oligopoly in Economics An Oligopoly is a market structure with a small number of firms. A good example of an oligopoly is the petroleum industry in which a few firms have accounted in recent years for much of the industry’s refining capacity. Each of the major oil firms must take into account of the reaction of the others when it formulates its price and output policy is likely to affect theirs. Oligopolistic industries like others, often pass through a [...]