Why is there Restriction of Entry and Exit in an Oligopoly???
Explain the term 'high cost associated with entry' as given on meritnation study material
Dear Student
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1. Each firm in an oligopoly market condition has great monopoly power and hence, the number of sellers in such a market condition is small.
2. Moreover, there are many reasons as to which there are restrictions in entry and exit of firms in an oligopolistic market. They are patents, large investment, raw materials control etc.
Regards
Please ask single query in a thread. However, one of your queries has been answered here
1. Each firm in an oligopoly market condition has great monopoly power and hence, the number of sellers in such a market condition is small.
2. Moreover, there are many reasons as to which there are restrictions in entry and exit of firms in an oligopolistic market. They are patents, large investment, raw materials control etc.
Regards