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Jarrett
Social Studies
2 June, 19:13
What are the characteristics of an Oligopoly?
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Christine Snow
2 June, 19:18
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Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence.
Explanation:
The three most important characteristics of oligopoly are:
(1) an industry dominated by a small number of large firms,
(2) firms sell either identical or differentiated products, and
(3) the industry has significant barriers to entry.
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Danica Blankenship
2 June, 19:27
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It's an industry run by small number of large firms
Firms which sell the same or different products
Has significant barriers to entry
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