oligopoly is a market where the supply is, Accounting Basics

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oligopoly is a market where the supply is

Oligopoly is a market where the supply is controlled by a little group of companies. In this condition, the actions of single company will have a material effect on the entire market for a product.

Various characteristics of an Oligopoly:

1) Substantial barriers to entry

2) Market dominated by a few large firms

3) Differentiated products

4) Price rigidity

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