Economics
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Title: Economics

Essay Details:

Subject: Business
Author: Gertrude J
Date: January 23, 2015
Level: University
Grade: B
Length: 5 / 1483

Essay text:

Whichever structure is examined the assumption is that they will always want to maximize profits. Characteristics of an Oligopoly An oligopoly is a market form in a market or industry in which there are only a small number of sellers of a particular product. Due to this small number of sellers in this market it enables each seller to be aware of one another and their actions. This results in the decisions of a firm being highly influenced by the decisions of another firm. Company examples of an oligopoly would be Banking and supermarkets. The first characteristic of an oligopoly is that there is a lot of competition...

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