An Oligopoly Is Likely to Be Below Monopoly Levels but Above

question 121

Essay

An oligopoly is likely to be below monopoly levels but above competitive levels. Why? Explain.

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Definitions:

Decentralization

The distribution of administrative powers or functions across various levels and departments within an organization, promoting autonomy and flexibility.

Wider Spans Of Control

A management principle whereby a manager supervises a larger number of subordinates, which can lead to more autonomy but also requires more efficient communication.

Effective Delegation

The skill of assigning tasks and authority to subordinates in a way that maximizes efficiency, development, and empowerment.

Empowerment Of Workers

The practice of giving employees more autonomy, authority, and control over their work and decision-making processes, fostering job satisfaction and productivity.