It is important to understand that oligopoly is not characteristic of industry as a whole . Most firms and industries operate somewhere in the area of imperfect competition . Millions of people , working in thousands of factories , produce hundreds of thousands of products substantially without governmental or any other outside direction . The firms that make up this market exercise almost complete control over their prices , and price conspiracies in this market are extremely rare . In fact , aside from utilities , transportation , and some...











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