Oligopolies have few sellers and difficult entry.

Name: Oligopolies have few sellers and difficult entry.
Brand: Quizplus
Rating: 4.8 (46 reviews)

Question

Quizplus · Accepted Answer

Oligopolies are defined as markets with few sellers, typically between 2-10 dominant firms who control the majority of the market share. Due to the limited number of competitors, entry into the market is difficult and may be inhibited by various factors such as high barriers to entry, established brand loyalty, or economies of scale.

Oligopolies Have Few Sellers and Difficult Entry