What Is Oligopoly?. Oligopoly is a market structure in which Natural or legal barriers prevent the entry of new firms. A small number of firms compete. What Is Oligopoly?. Barriers to Entry Either natural or legal barriers to entry can create oligopoly.
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Firms in a cartel act like a monopoly and maximum economic profit.Oligopoly Games
To find that profit, we set marginal cost for the cartel equal to marginal revenue for the cartel.Oligopoly Games