What do you mean by Oligopoly
What do you mean by the term Oligopoly in brief?
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The Oligopoly is a market condition in which there are some firms selling homogeneous or differentiated products. This is difficult to pin-point the number of firms in the oligopolist market. There might be three or five firms. This is as well termed as competition among the few. With merely a few firms in the market the activities of one firm is probable to influence the others. The oligopoly industry might produce either heterogeneous or homogenous products.
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