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Questions
What is meant by oligopoly?
Define oligopoly.
Solution
An oligopoly is a market structure in which there are only a few big sellers.
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RELATED QUESTIONS
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| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
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