What is oligopoly? Explain in minimum words. – InterviewSolution

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What is oligopoly? Explain in minimum words.

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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. The concentration ratio measures the market SHARE of the largest firms. A monopoly is one firm, duopoly is two firms and oligopoly is two or more firms.

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