If oligopolists engage in collusion and successfully form a cartel, the market outcome is the same as a monopoly.
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What is oligopoly?</h3>
Oligopoly markets are markets dominated by a small number of suppliers.
Oligopoly is a form of imperfect competition and is usually described as the competition among a few.
Hence, Oligopoly exists when there are two to ten sellers in a market selling homogeneous or differentiated products.
A good example of an Oligopoly is the cold drinks industry.
They can be found in all countries and across a broad range of sectors.
Some oligopoly markets are competitive, while others are significantly less so, or can at least appear that way.
Some of the most notable oligopolies in the U.S. are in film and television production, recorded music, wireless carriers, and airlines.
To learn more about Oligopoly markets, refer
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Answer:
Minsky Explanation
Explanation:
Based on the information provided within the question it can be said that the explanation that makes this statement is the Minsky Explanation. Which aside from arguing this, it basically states that reckless speculation is not able to sustain a bullish period and a sudden decline in market sentiment ultimately leads to a market crash every time.
