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$52.00
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1 mg
Description
An oligopoly is a market structure in which a small number of firms dominate the industry, influencing prices, supply, and market trends. This differs from monopolies where one firm controls the entire market, and perfect competition, where many firms sell identical products. In an oligopoly, the actions of one firm directly impact others due to the limited number of competitors. Firms in an oligopolistic market are interdependent, making strategic decisions based on their competitors' actions.
