Meaning and information of oligopoly are given below so let us check it some more points on oligopoly to know more about it. Also check out Advantages & Disadvantags of oligopoly for more information.
- An oligopoly consists of small number of firms.
- Each firm has a large market share
- The firms have an incentive to collude
- The firms are interdependent
- Lack of uniformity
- Entry and exit barriers
- Imperfect competition
- Few sellers
- Companies sell either identical or differentiated products.
- Non-Price competition is common.
- Rivals know about each others behaviors and actions.