In oligopoly, when the industry is dominated by one large firm which is considered as leader of the group. This is called ___________.

full oligopoly

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collusive oligopoly

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partial oligopoly

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syndicated oligopoly

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Solution

The correct option is A partial oligopoly
Partial oliogopoly is a market situation where one large firm dominates the market and is locked upon by the price leader. Hence, in oligopoly, when the industry is dominated by one large firm which is considered as leader of the group. This is called partial oligopoly.

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Similar questions

When the firms in an oligopoly collude together, such a collusion is called a ___

(a) What is meant by price rigidity, under oligopoly.
(b) Elaborate the impliation of the conditions of equilibrium of a firm.

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