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The main features of an oligopolistic market are that there are only a few firms, all firms sell similar products, and that prices depend on
The main features of an oligopolistic market are that there are only a few firms, all firms sell similar products, and that prices depend on what everyone else is charging. Oligopolies set their prices by charging so little that it is hard for others to enter the market, while still keeping up with their competition. You can distinguish a firm in an oligopolistic market from a monopolistic market because multiple companies sell similar goods, rather than just one company. One example of this would be air lines. Summarize
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