Oligopoly and contestable markets GapFill

A market structure where there is no   totalsunkfixedvariable cost and no   abilityinterdependencebarrierstime to entry is known as  an oligopoly a contestable market monopolistic a monopoly . Sunk costs are those costs that have already been   recovered paidincurred lost and will never be  incurredworn outpaidrecovered . A market structure where there are few large firms is known as  an oligopoly monopolistic a monopoly contestable .   By-poly Monopsony Duopoly Monopoly is a market structure dominated by two large firms. A   cartel tacit collusion price war occurs when oligopolies formally come together and agree a set price and output. If it is informal, it is called   tacit overt price war cartelisation collusion. One major reason why oligopolies collude is to eliminate   physicalproductfierceprice wars.