Please explain to me with an example of a real-world industry or market that would be described by economists as an oligopoly market© BrainMass Inc. brainmass.com March 4, 2021, 8:19 pm ad1c9bdddf
This structure exists when a few sellers of products or services control the supply of a large proportion of the market. These firms tend to set similar prices and create more difficult barriers for entry into the market. In oligopoly is market form in which a market is dominated by a small number of sellers (oligopolistic). Oligopolistic markets are characterized by interactivity.
An example of a real-world industry or market that would be described by economists as an oligopoly is embedded.