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 July 18, 2018, 3:02 am 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.