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Economics
Essay specific features
Written by:
Vannessa L
Date added:
January 29, 2013
Level:
University
Grade:
A
No of pages / words:
6 / 1483
Was viewed:
5354 times
Rating of current essay:
Essay content:
Whichever structure is examined the assumption is that they will always want to maximize profits.
Characteristics of an Oligopoly
An oligopoly is a market form in a market or industry in which there are only a small number of sellers of a particular product. Due to this small number of sellers in this market it enables each seller to be aware of one another and their actions...
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Due to this small number of sellers in this market it enables each seller to be aware of one another and their actions. This results in the decisions of a firm being highly influenced by the decisions of another firm. Company examples of an oligopoly would be Banking and supermarkets. The first characteristic of an oligopoly is that there is a lot of competition...
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