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see monopolymonopoly
, market condition in which there is only one seller of a certain commodity; by virtue of the long-run control over supply, such a seller is able to exert nearly total control over prices.
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a term used in bourgeois economics to designate a form of market structure in developed capitalist countries. Under oligopolistic conditions several large firms monopolize the bulk of production and marketing and conduct nonprice competition among themselves. The term “oligopoly” was introduced by the English writer T. More, the founder of Utopian socialism, in his Utopia (1516). A mixture of monopoly and competition, oligopoly is characteristic of almost all branches of present-day capitalist mass production.


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
References in periodicals archive ?
Here, the comparison to predatory pricing conducted by oligopolists is instructive.
i] denotes the marginal cost of production for the oligopolist (monopolist); A[C.
Under these assumptions, the analysis will be based on the Pigouvian model of third-degree price discrimination (Pigou 1932) within a market structure characterized by n identical Cournot oligopolists.
That is, the prices of one oligopolist could be brought into line with costs and others would be certain to follow.
Let m(P) now be the inverse demand function faced by the domestic oligopolist for a given level of production of its foreign competitor.
As the number of consumers who are informed about competitive prices increases, the oligopolist should be increasingly concerned about the chance that a price differential will be discovered (see Stigler 1961; Salop and Stiglitz 1977; Wilde and Schwartz 1979).
Rutenberg (1988) developed a model of Canadian firm behavior where dominant firms and oligopolist market leaders attempt to limit the sales volume of its rival firms through "umbrella pricing.
3) The Mulligan and Fik papers theoretically examine the degree to which the pricing behavior of a spatial oligopolist is linked to the attributes not only of the closest rival, but also to the attributes of all rivals in the market area.
We assume that the rival firm is an oligopolist with the MNF's downstream branch but takes price as given when buying the input.
This rationalization process consists of each oligopolist searching to establish the relevant correlation for him between price and quantity and applying the results obtained in his market policy [1934, 95] Economic variables are no longer stable nor do individuals assume them to be constant and beyond their influence.
This was done in concert, the suit charged, because each oligopolist understood that the successful entry of a new competitor in its own local monopoly markets would encourage new competitive entry into the local monopoly markets of the other oligopolists; new competition for one, in other words, would encourage new competition for all, which would dissipate the local monopoly dominance of each.
Instead we can take the equilibrium outputs produced by an oligopolist, [q.