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Essay text:
Being a
major corporation almost automatically implies that the company
has means of controlling its market.
OLIGOPOLY CONCENTRATION
An oligopoly form of market is characterized by the presence of
a few dominant firms. There may be a large number of small
firms, but only the major firm have the power to retaliate. This
results in a high concentration of the industry in only 2 to 10
firms with large market shares.
The gasoline industry is an oligopoly in the United States: it is
dominated by a few giant firms such as Exxon, Mobil, Chevron and
Texaco. Note, however, that many small firms exist in the
market: small independent gas stations which sell in just one
city or just a limited region...
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