What are the principal features of Oligopoly? How does it come about?

Marketing Jan 11, 2021

Expert Solution

For a market to be considered an oligopoly there needs to be only a small handful of firms in the market with each having significant market power. Furthermore, there needs to be significantly expensive barriers to entry in order to successfully block any firms from entering the market who are looking to enter the market in order to gain the sizeable profit margin gained by the market power.

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