👉 Oligopolistic refers to a market structure in which there are only two or fewer firms that can enter, sell their products at prices determined by the competition. This type of market is characterized by high barriers to entry and concentration of power among those few firms. The goal of an oligopoly is typically to maximize profits through economies of scale and maintain price stability.
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What is the definition of Oligopolist? 🙋
👉 In economics and business, an "oligonopolist" is a company with a monopoly in its market. This means that the company has the ability to set prices at will without competition from other firms. The terms of trade between these companies are characterized by high barriers to entry and high profit margins. In oligopoly markets, there is typically one dominant firm or group controlling most of the market share.
