Over the long run, buyers fare better in terms of prices when facing oligopolists than when facing sellers in any other market structure.

Question

Quizplus · Accepted Answer

In an oligopoly, a few firms dominate the market, which can lead to higher prices and less competition compared to more competitive market structures like perfect competition, where many sellers lead to lower prices and more choices for buyers.

Over the Long Run, Buyers Fare Better in Terms of Prices