Unit 2.11(5): Market power - Oligopoly(HL)
This page covers oligopoly in terms of the nature of the market, collusive and non-collusive oligopoly, game theory, price rigidity, non-price competition and efficiency. An oligopoly is a market model in which a small number of large firms account for a high proportion of total market revenue. The concentration ratio is the percentage of market revenue accounted for by a certain number of firms. Oligopolistic...