Oligopoly
A market structure in which a few very large sellers dominate the industry
ex; McDonalds, Wendy's and Burker King are a fast food oligopoly
Further from perfect competition than Monopolistic Competition
6 iMagazine / October, 2014
Interdependent Behavior
- When one firm acts rhe others follow in order to refrain from losing customers
ex: Chrysler made the minivan and other car companies followed