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oligopoly |
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oligopoly: see monopoly monopoly (mənōp`əlē) ..... Click the link for more information. . oligopolyMarket situation in which producers are so few that the actions of each of them have an impact on price and on competitors. Each producer must consider the effect of a price change on the others. A cut in price by one may lead to an equal reduction by the others, with the result that each firm will retain about the same share of the market as before but with a lower profit margin. Competition in oligopolistic industries thus tends to manifest itself in nonprice forms such as advertising and product differentiation. Oligopolies in the U.S. include the steel, aluminum, and automobile industries. See also cartel, monopoly. oligopoly Economics a market situation in which control over the supply of a commodity is held by a small number of producers each of whom is able to influence prices and thus directly affect the position of competitors How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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In fact, an analysis of the novel's rejection by Hollywood may seem an exercise in the obvious: Hollywood studios of the studio era (1928-1948) were oligopolies invested in producing conservative films thought to be universally consumable. The tendency of MNCs to enter sectors with high entry barriers where monopolies or oligopolies already exist may lead to an increase in competition and efficiency in those sectors, as local firms come under pressure to improve their performance and compete with the new entrants. First is the long series of mergers, acquisitions, bankruptcies and strategic reordering of markets that has enabled ever more powerful oligopolies to consolidate control over ever more industrial sectors. |
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