Barriers to entry are strong, with demand that is relatively inelastic below market price in this form of competition in which a small group of sellers dominates.
American examples include the movie and television industries, in which Disney, Viacom, NBC, Time Warner and News Corp. dominate. Though competition between players can be extensive, it is often accompanied by collusion. Barriers to entry are strong, with demand that is relatively inelastic below market price in this form of competition in which a small group of sellers dominates.
American examples include the movie and television industries, in which Disney, Viacom, NBC, Time Warner and News Corp. dominate.
{Oligopoly}