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Oligopolists
Beginning of paper
There are four market structures in our economy today : Perfect
competition, monopolistic competition, oligopolies and monopolies. This essay
shall describe the oligopoly market.
The definition of an oligopoly states that in an industry, a small
number of firms dominate the market. There are a low number of firms in the
industry, becasue and addi ....
Middle of paper
....o the consumers. This
includes misleading advertising, market sharing and collusion.
Collusion is where the firms of an industry meet a set, common price, or agree
not to come into each other in the market area. These two above practises are
ways of government intervention that regulate the conduct of oligopolies.
Australian examples of oligopol.... |
| Word count: 349 |
Page count: 2 |
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