A market with a few large sellers is called

Question

Quizplus · Accepted Answer

An oligopoly is a market structure characterized by a few large sellers, who have a significant market share and can affect the price of the product, but still face some competition from other firms. In an oligopoly, firms can use strategic behavior, such as price-fixing agreements or advertising campaigns, to maintain their market power. Therefore, an oligopoly is different from a perfectly competitive market, where there are many small firms that cannot influence the price, a monopolistically competitive market, where there are many firms selling differentiated products, and a monopoly, where there is only one seller controlling the entire market.

A Market with a Few Large Sellers Is Called