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

Question

Social Studies

Boston

15 April, 22:49

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

+4

Answers (1)

Know the Answer?

Lia Poole · 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.