Ask Question
19 August, 13:54

Explain why the supermarket industry is an oligopoly

Answers (1)
  1. 19 August, 14:12
    Answer and explanation:

    An oligopoly is when the market is controlled by a small group of two or more companies. Oligopoly firms may consent to market collusion, and build obstacles to new trade entry. If the businesses do not, they will be forced to lower their prices and open the markets to new and smaller firms.

    Supermarkets are oligopolies because in every market there are a few companies offering the same products just like them with small differentiation between one and another, providing those goods to relatively similar prices.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Explain why the supermarket industry is an oligopoly ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers