Oligopoly GapFill

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