implication of few firm under oligopoly

Vineet,

The implication of few firms under oligopoly is that ‚Äčthere exists a cut-throat competition among the firms which it is very difficult for any new firm to enter into the industry. Moreover, as the existing firms are the only giants in the market, so it narrows the scope for a new entrant to enter the industry due to high cost associated with the entry. This restricts the entry of new competitiors in the oligopoly market.  

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