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QUESTION AND ANSWER

Exploring oligopoly

In this column, Steve Stoddard offers guidance on answering examination questions about oligopoly

Some car retailers pride themselves on their after-sales service as a way of securing customer loyalty

Many of the products we buy come from firms in markets which may be considered oligopolies. What are oligopolies, how do they behave and do they represent the best market structure for consumers? Should governments intervene in oligopoly markets?

An example essay on this topic might be based on the following questions:

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Previous

The pandemic, inequality and the ‘Great Gatsby curve’

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Joan Robinson

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