what is the difference between a monopoly and an oligopoly
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A monopoly contains a single firm that produces goods with no substitute while an oligopoly market has a small number of relatively large firms that produce similar but slightly varient products.
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monopoly contains a single firm that produces goods with no close substitute, while an oligopoly market has a small number of relatively large firms that produce similar but slightly different products. In both cases, there are significant barriers to entry for other enterprises.
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