oligopoly---refers to a small number of powerful entities making up total
market share of a certain good or service, somewhat similar to a monopoly. In price
collusion, an oligopoly can also set prices and quantity
produced, generally getting in the way of the invisible
handand crew. Collusion is illegal, but there are
exceptions...are these the real old pirates? Some oligopolies exhibit increasing returns to scale
which can be passed onto their crews and customers. Some oligopolies and monopolies make and
exchange goods that carry with them positive externalities.
market share of a certain good or service, somewhat similar to a monopoly. In price
collusion, an oligopoly can also set prices and quantity
produced, generally getting in the way of the invisible
handand crew. Collusion is illegal, but there are
exceptions...are these the real old pirates? Some oligopolies exhibit increasing returns to scale
which can be passed onto their crews and customers. Some oligopolies and monopolies make and
exchange goods that carry with them positive externalities.