- Pretend for a moment that this is Twitter and you only have 140 characters to respond in — write a tweet defining and/or describing oligopoly.
Oligopoly is a market structure in which only a few sellers offer similar or identical products
2. Can you think of a market that was an oligopolistic market, but has changed and is now either leaning monopoly or Monopolistic competition? Were regulatory agencies involved? (Good or bad.)
I think that Kellogg Cereal is leaning towards a monopoly. There are still many brands of cereal on the shelves today, but Kellogg is leading the market for cereal.
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