Introduction
A market with few sellers is known as oligopoly market. It is a form of imperfect competition. The simplest form of oligopoly occurs when there are two sellers in the market. It is called as duopoly. The product produced and sold by the firms in an oligopolistic industry may be homogenous or differentiated. If the product produced is homogenous it is called pure oligopoly and if the products produced are differentiated then it is called differentiated oligopoly. Oligopoly is the most prevalent form of market organization in the manufacturing sector of United Sates and other countries. Some of the oligopolistic ...