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Line 5:
Line 5: − An example of an oligopoly is the market for [[Auto insurance|car]] or [[health insurance]] in most states.+
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An imperfect oligopoly consists of a few firms in an industry or market, but their product is differentiated, as in the car industry.
An imperfect oligopoly consists of a few firms in an industry or market, but their product is differentiated, as in the car industry.
The retail gasoline market is a good example of an oligopoly because a small number of firms control a large majority of the market.
[[category:economics]]
[[category:economics]]