Identify and describe a real world example of an oligopoly. What characteristics of this market fit the definition of an oligopoly?

Define an example of an Oligopoly. How does this market match the criteria for an oligopoly. Which role is advertising playing in this market Is this consistent with what you’ve learned about advertising and oligopoly

The telecommunications sector is a real-world example of an oligopoly. This market consists of a few large corporations such as AT&T, Verizon, and T-Mobile who are able to maintain control over prices and production due to their sheer size and power in the marketplace. These companies have high entry barriers, which helps keep smaller competitors out and allows them to maintain their dominance.

These traits are compatible with the concept of an “oligopoly”, which refers to a market structure that is composed of few companies who have substantial control over prices and other decision-making within a given industry. Not all oligopolies can be held by three or fewer companies (as is the case in this instance), but any market structure where more than one firm has enough power over it to ensure that each actor succeeds.

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