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When an oligopoly exists, how many producers dominate the market?
When an oligopoly exists, how many producers dominate the market?
Answer
The oligopoly is known to have a one producer dominating the market.
This results in a few suppliers/sellers in the market, and thus can cause a high increase in the price of the products that are being sold in its respective community.
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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017
This 20 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 302 views.