What effect might the government have on oligopolies? in oligopolies, the government might

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24-08-2022
Business

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What effect might the government have on oligopolies? in oligopolies, the government might

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Аноним Аноним · Answer 1 · 2022-09-08T22:26:11+02:00

A small number of suppliers control the market in oligopoly markets. They exist in all countries and a wide range of industries. Some oligopoly markets are significantly more competitive than others, though some may only appear to be so.

Since government policy can either forbid or support oligopolistic behavior, businesses in mixed economies frequently seek government approval for strategies to reduce competition.
Governments should intervene because of the allocation and productivity inefficiencies in these markets. In an oligopoly, a small number of strong, large companies with sizable market shares control the majority of the market. They set prices and market distinctive goods. Additionally, entry is very challenging.
To prevent foreign competition in oligopolies, the government may impose tariffs as entry barriers. With occupational licensing, where a license is necessary to provide a good or service, it can erect barriers to entry.

Thus these are the effects that the government have on Oligopolies.

To learn more about Oligopolies, refer: https://brainly.com/question/13635083

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harshsuts054 harshsuts054 · Answer 2 · 2022-09-17T18:48:11+02:00

A small number of suppliers control the market in oligopoly markets. They exist in all countries and a wide range of industries. Some oligopoly markets are significantly more competitive than others, though some may only appear to be so.

Since government policy can either forbid or support oligopolistic behavior, businesses in mixed economies frequently seek government approval for strategies to reduce competition.

Governments should intervene because of the allocation and productivity inefficiencies in these markets. In an oligopoly, a small number of strong, large companies with sizable market shares control the majority of the market. They set prices and market distinctive goods. Additionally, entry is very challenging.

To prevent foreign competition in oligopolies, the government may impose tariffs as entry barriers. With occupational licensing, where a license is necessary to provide a good or service, it can erect barriers to entry.

Thus these are the effects that the government have on Oligopolies.

To learn more about Oligopolies, refer: brainly.com/question/13635083

#SPJ4