Some observers assert that oligopolies are less socially desirable than pure monopolies because

Question

Social Studies

Keenan Leonard

3 January, 02:47

Some observers assert that oligopolies are less socially desirable than pure monopolies because

+1

Answers (1)

Know the Answer?

Emilio Browning · Answer 1

The oligopoly is characterized with few large producers that standardize or differentiated products, there are barriers to enter/exit.

Some observers assert that oligopolies are less socially desirable than pure monopolies because informal collusion among oligopolists may yield price/output results similar to those under pure monopoly yet give the outward appearance of competition.