The key defining feature of oligopoly,in addition to firms' market power,is

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The key defining feature of an oligopoly is that firms take rivals' actions into account when making decisions. This means that each firm's strategic choices and behavior depend not only on its own self-interest but also on the responses of its competitors. This can lead to competitive behavior (such as price wars) or collusion (where firms coordinate their behavior to achieve higher profits). However, the presence or absence of collusion does not define oligopoly as it can occur in other market structures as well. Free entry and exit and the Prisoner's Dilemma are not defining features of oligopoly but are concepts that are relevant to understanding market behavior.

The Key Defining Feature of Oligopoly,in Addition to Firms' Market