Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence. The concentration ratio measures the market share of the largest firms. A monopoly is one firm, a duopoly is two firms and an oligopoly is two or more firms.

Oligopoly is the type of market that has few number of firms but controls the market for a certain service or product. An example would be the auto industry – Chrysler, GMC, and Ford. So the best example in the question above is 2. Since it is setting a price to maximize output level rather than lowering the price.

Oligopoly arises when a small number of large firms have all or most of the sales in an industry. Examples of oligopoly abound and include the auto industry, cable television, and commercial air travel. Oligopolistic firms are like cats in a bag.

Explanation: Oligopoly is when there are more than one company that dominates a market.

: a market situation in which each of a few producers affects but does not control the market.

C. They have Access to enough capital to operate in high-cost industries. Explanation: Both monopolies and oligopolies have some common traits, and one of the most important ones is that they all have a large market power.

Google also engages in intense competition with its rivals in the Mobile Operating Systems industry. Therefore, despite of its large market share and supernormal profits, Google should not be considered a monopoly. Instead, the search engine industry is an oligopoly industry.

But its main competitors — Disney+, HBO Max, Paramount+ and AppleTV+, as well as the old-guard streamers Amazon Prime Video and Hulu — have cut into Netflix’s share of viewers’ attention.

Streaming shows and movies over the internet is the best way to watch TV, and Netflix is the best choice for streaming entertainment, period. It includes a wide variety of familiar network shows and more original series, films, documentaries and specials than any of its myriad competitors.

But it was McCarthy’s candid words about Spotify’s major-label partners — “they have oligopoly power, and we can’t be successful without them as partners… we have driven all of their revenue growth, and they can’t be successful without us as business partners” — that were most striking.

Spotify is a privately-held digital music streaming service that provides access to over 30 million different songs with new music being added daily. The company’s mission is to provide music entertainment to its listeners.

oligopoly market

Take Spotify, which has 286 million monthly users, compared to Apple Music’s 60 million, and Amazon Music’s 55 million monthly users – the streaming service not only holds a monopoly over other streaming mammoths but also over the different ways to listen to music; being able to stream on the go is the preferred way to …

The five major market system types are Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition and Monopsony.

A monopoly is the least efficient market structure because it…