An oligopoly market structure involves a few large firms dominating a market, leading to interdependence and limited competition.
An oligopoly market structure is characterized by a market dominated by a few large firms that possess significant market power, thus preventing smaller firms from entering. Interdependence among firms is a key feature, where decisions made by one firm directly affect others. An example of an oligopoly is when only two companies operate in a country selling a particular product, such as solar panels.
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