There is no general theory of oligopoly.

Name: There is no general theory of oligopoly.
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Quizplus · Accepted Answer

Oligopoly, a market structure with a few dominant firms, lacks a single, unified theory because it can manifest in various ways, leading to different models (like Cournot, Bertrand, and Stackelberg) to explain its dynamics, unlike more straightforward market structures such as perfect competition or monopoly.

There Is No General Theory of Oligopoly