Market Competition and Monopoly Power: Insights from Oligopoly Structure

Abstract

In this context, the primary objective is to conduct a comprehensive investigation into the real-world implementation and impact of distinct economic models. Through the literature analysis, the paper sets out to examine product competition and corporate conduct within two contemporary markets. Through this meticulous approach, the aim is to unveil the nuanced distinctions and intriguing parallels that exist between Oligopoly and Oligopoly Competitive Markets. First, broad definitions and classifications of both oligopolistic and oligopolistically competitive markets are considered. Second, the subtle differences between the two markets will be shown through specific oligopoly examples (such as OPEC and mobile phone market). Third, detailed analysis of the features of the similarity between the two markets. Finally, the study found that, as two different market structures, the oligopoly market and the oligopoly competition market have completely different gaps in market control and price stability, but it is undeniable that the two markets have the same driving force in innovation.