Oligopoly Oligopoly is a market structure dominated by a small number Of large firms, selling either identical or differentiated products, and there are significant barriers to entry into the industry. This is one of four basic market structures. The other three are perfect competition, monopoly, and monopolistic competition. Oligopoly being a general market structure category, dominates the modern economic landscape. About half of the output produced in the world’s economy can be traced to …showed first 75 words of 1561 total…

…showed last 75 words of 1561 total…dominate the industry. Oligopolies should have at least three different outcomes. Them being, the firms might get together and form a cartel, coordinating their behavior as if they were a single monopoly. They might behave independently, each trying to maximize its own profit while somehow taking account of the effect of what it does on what the other firms do. Oligopoly is a crucial market structure. And to my belief it being the most integral.