What are some similarities and differences between a pure monopoly and oligopoly? what would be a good example of a company in a monopoly and one company in oligopoly for comparison?
In both industries, firms have total control in determination of commodity prices. Both induatries exhibits imperfect... View the full answer
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For similarities: Both have a large market share and power In both cases, their are barriers to entry For... View the full answer
Oligopoly exists when just a few large firms dominate a market in contrast to a pure monopoly where one firm dominates the... View the full answer