| dc.description.abstract | This note elaborates the characteristics of oligopoly as a very complex type of market structure. In the real world, most large-scale manufacturing industries are oligopolistic. The essential characteristic of oligopoly -- namely, the indeterminateness of individual cannot be explained through a single model. Depending upon their specific assumptions, economists have provided many different models of oligopoly. This note discusses eight important theoretical models of non-collusive and collusive oligopoly. The managerial theories of the firm are applicable to situations of oligopoly. | en |
