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Understanding The Market: Monopoly, Duopoly, and Oligopoly
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[QUOTE="btaliat, post: 251573, member: 26390"] This is a well written article. Short, articulated and rich in intent and content. The theme of the topic was clearly stated. And the reader would easily grasp the idea of the market structure. Economists have tried to come out with advantages and disadvantages for the three. The mode of economy in countries do detemine the type of market to be prsctised it that country. There have been a time in Nigeria z s country in Africa, granted the richest man in Africa, Aliko Dangote, an opportunity to be the sole supplier of sugar. Many claimed that that's the origin of his wealth. Succinct to say that monopoly market is capable of making an individual rich at the expense of the masses. Oligopoly is mostly and best prsctised in a capitalist market. This will not give room for the producer to get richer at the expense of the masses as the masses may determine to get their goods from other producer of the price of a producer is too high. The market will always look for better ways to outshine the other people in the competition. The only advantage to it however is that it does care more about profit than customers satisfaction. [/QUOTE]
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Understanding The Market: Monopoly, Duopoly, and Oligopoly
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