Question

Why airline industry is considered as oligopoly

Answer 1

Answer:

The airline industry is characterized by an oligopoly market structure, a form of imperfect competition in which a limited number of firms dominate the industry. ... Since oligopoly firms produce similar outputs and compete with their industry rivals, any action an oligopoly firm takes is noticed by its competitors

Answer 2

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The airline industry is characterized by an oligopoly market structure, a form of imperfect competition in which a limited number of firms dominate the industry. ... Thus, the firms in an oligopoly are interdependent, and each recognizes that its market power is vulnerable to erosion by competitors or new market entrants.

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