Oligopoly GapFill

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