Oligopoly
This is an old revision of this page, as edited by Aschlafly (talk | contribs) at 05:56, January 2, 2007. It may differ significantly from current revision.
An oligopoly is an industry or market dominated by a few firms selling a similar (undifferentiated) product. This is called a "perfect oligopoly." The few firms can behave in a harmful manner similar to how a monopoly behaves in overcharging customers or otherwise suppressing beneficial competition.
An imperfect oligopoly consists of a few firms in an industry or market, but their product is differentiated, as in the car industry.