list 4 goods or services that you have purchased that were produced by an oligopolist. why are these industries oligopolistic, rather that monopolistically competitive?
2007-03-19 05:58:39 · 2 answers · asked by prettypls, 1 in Social Science ➔ Economics
Industries are oligopolistic, generally speaking, because they have very high entry barriers and large capital requirements.
2007-03-20 01:30:10 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Oligopolist:
Gasoline at a Shell station
GM car
Cable TV
Cellular phone
The main reason that these were ologopolies was because there was choice and a few number of firms have a majority of the market:
The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market.
2007-03-19 15:12:53 · answer #2 · answered by Santa Barbara 7 · 0⤊ 0⤋