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What is Oligopoly?
Oligopoly is one type of market structure where an industry grabs the market with the help of Oligopolists or a smaller number of sellers. It is very much similar to Monopoly where a company or industry controls over the most part of the market. But, the most important thing is there may be two or more than two firms. Every firm has some specific market structure and like a Nash equilibrium decision of one firm affects the other.
The experts explain in a perfect way with an example of gas Retailer Company. These retailer companies grab the market and a lot of consumers are there to use the services. They also explain how the different models affect the market. These are Caurnot-Nash Model, Bertrand Model and Kinked Demand Curved model.
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Who are providing solutions?
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