The conclusion that oligopoly is inefficient relative to the competitive ideal must be qualified because industry price leaders often select a price equal to marginal cost.
An oligopoly market is a market dominated by a few suppliers. They are found in all countries and in various industries. Some are competitive oligopolistic markets, while others are significantly less competitive, or at least appear to be.
Some of the most prominent oligopolies in the United States are involved in film and television production, recorded music, wireless carrier, and airlines. From the 1980s onwards, it became common for the industry to be dominated by two or three of his companies. Merger agreements between major players have led to industry consolidation.
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