How do we classify oligopoly within imperfect competition?
a. A less extreme limit.
b. Almost perfect competition.
c. An extreme limit.
d. Compet...
How do we classify oligopoly within imperfect competition?
a. A less extreme limit. b. Almost perfect competition. c. An extreme limit. d. Competition is equal for all companies. e. Competition is equal for the service sector.
Oligopoly is classified as an extreme limit within imperfect competition. This is because there are only a few large companies that dominate the market, which can lead to limited competition and the potential for collusion between firms.
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