Author(s): Warren Marinho
Oligopoly stands as a significant market structure characterized by a small number of large firms dominating an industry, exerting substantial influence on market outcomes. This paper provides a comprehensive exploration of oligopoly, delving into its structure, behavior, and implications for market dynamics and economic welfare. It analyzes the distinctive features of oligopolistic markets, including interdependence among firms, strategic interactions, and barriers to entry. Moreover, the paper examines various models and theories that elucidate oligopolistic behavior, such as game theory, strategic pricing, and collusion.