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Economics - Oligopoly
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Economics Coursework: Oligopolistic Market Structures
How can small independent retailers compete in an oligopoly?
In this investigation, I will determine if small retailers can compete in an oligopolistic market structure. But before this question can be answered, the term "oligopoly" must first be defined as so to compare the market structure of an oligopoly to the structure of the supermarket industry. There are some main factors that an oligopolistic market possesses; all of them must be fulfilled to classify a market as an oligopoly.
However, my take on why small retailers continue to survive in oligopolistic market structures due to how they provide a sense of unity within the area they encompass; providing goods that they know that community needs, based heavily on the fact that the small retailer sees a local connection in the area which can be capitalised on by being more personal and closer to the community they reside in. It's an intangible factor in which small retailers can reside in and use to take
Factors that an oligopoly must have:
1) Concentration Ratio: In many different markets across the world, the concentration ratio of a specialist market is
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