Oligopoly

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DEFINITION of 'Oligopoly'

A situation in which a particular market is controlled by a small group of firms.

An oligopoly is much like a monopoly, in which only one company exerts control over most of a market. In an oligopoly, there are at least two firms controlling the market.

INVESTOPEDIA EXPLAINS 'Oligopoly'

The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market.

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    The United States airline industry is an oligopoly. An oligopoly exists when a market is controlled by a small group of firms, ... Read Full Answer >>
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    As of 2014, two of the most well known oligopolies in the United States are the film and wireless communications industries. ... Read Full Answer >>
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    Oligopolies are prevalent throughout the world and appear to be increasing ever so rapidly. Unlike a monopoly, where one ... Read Full Answer >>
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