oligopoly


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oligopoly:

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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oligopoly

See MONOPOLY.

Oligopoly

 

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.

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
References in periodicals archive ?
The primary reason to have an MFN is that it helps to enforce the bilateral oligopoly.
To simulate decision-making related to an oligopoly, we treat an individual student as an individual firm who should decide if he/she would collude or compete.
However, Rothschild notes that while these advances allowed theory to be applied more widely to cases such as product differentiation across firms, which had been treated as exceptions in the theory of competition and monopoly, they did not go far in dealing with interdependence of firms and the resulting indeterminateness of oligopoly pricing outcomes.
Though Cimenterie Nationale has encroached slightly on Holcim's market share in the past two years, each firm's share of local sales over the past decade has remained relatively stable, a fact critics cite as ammunition against the oligopoly.
There is an oligopoly in the production of milk and an oligopoly in the distribution of milk," said Theodoulou.
A first basic point is that either oligopoly power or oligopsony power is detrimental to farmers because either causes diminished sales of the farm product, and, since farm price in all cases is determined at the intersection of total sales volume with the farm supply curve, any salesreducing market power reduces farm price along a normal upward-sloping supply curve.
The case covers a financial services start-up and focuses in the areas of business environment, economic profit, marginal analysis, consumer behavior, and oligopoly.
Since this year, at the University Matej Bel, it was decided to give to students the possibility to study the oligopoly theory in a learning by doing style.
In each of the next two sections, we compare sequential location models for a mixed oligopoly with those for a private oligopoly that has no public firm.
The airline went on to challenge the established oligopoly in the domestic aviation sector with unprecedented cheap fares.
the research is focused on the main oligopoly market structures from the microeconomics point of view.
Price net of marginal cost, as a percentage of price,--the Lerner Index in oligopoly theory--increased on standard plan services to an amount in excess of 60%.