OLIGOPOLY

In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic.

The split monopolistic supply on the oligopolistic market is delivered by a couple (two or more) entrepreneurs acting together. Monopoly advances a single seller, whose product can be exchange on the market only if an additional seller is there as its contractor, so the monopoly is divided in itself and presents a joined supply. Oligopoly is that divided monopoly. Even divided, the monopolistic profit is derived in the same way in the oligopoly: production is extended to the point where the final part of it generates an income to cover exactly that final part’s cost.

Historical Backdrop
• THOMAS MORE Utopia: oligopoly.
• AUGUSTIN COURNOT Researches into the Mathematical Principles of the Theory of Wealth: duopoly.
• JOHN BATES CLARK The ‘Trust’; The Modern Appeal to Legal Forces in Economic Life: monopoly power.
• KNUT WICKSELL Lectures on Political Economy: joint supply.