What Are the Key Characteristics of an Oligopoly

question 179

Essay

What are the key characteristics of an oligopoly?

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Definitions:

Superseding Causes

Events or actions that intervene in a chain of causation and prevent an actor from being liable for harm to another.

Harm

Refers to damage or injury that affects someone or something's well-being or functionality.

Abnormally Dangerous Activity

An abnormally dangerous activity is any activity that inherently involves a high risk of harm or injury to people or property, even when all possible safety measures are taken.

Strict Liability

A legal doctrine holding an individual or entity responsible for damages or injuries caused by their actions or products, regardless of fault or intention.