| 单词 | oligopoly |
| 释义 | oligopoly A market situation with only a few sellers, each anticipating the others' reactions. Each firm has a sufficiently large share of the market to need to consider the individual reactions of the others to changes in its price or output. Equilibrium thus depends on how each oligopolist forecasts the others' reactions. This is contrasted with monopolistic competition, in which each firm regards its own demand curve as downward-sloping, but no firm feels the need to take account of the individual reactions of the others. |
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