Oligopoly
Advantages
- Oligopoly has few sellers
- identical or similar products
- Sellers collude to fix prices
Disadvantages
- Fixed prices
- Cartel
- Don't last long
Fast food
This describes an oligopoly because it shows how two companies have different burgers but sell for the same price.
Oligopoly
This shows how there are few companies in an oligopoly.
Phone providers
This image shows how there are only a few phone providers in the market.
Companies that are oligopoly
These companies are oligopoly because they they sell identical or similar products.
Poll question
What type of products does oligopoly companies sell?