11. In an oligopoly , firms operate under imperfect competition. 12. In oligopoly theory he developed the conjectural variation approach. 13. In most countries, this system of licensing makes many markets local oligopolies . 14. Additional consumers of identity, who were sidelined during prior periods of oligopoly . 15. Much microeconomic reform is still to be done, from deregulation to dismantling oligopolies . 16. When all that's settled, oligopolies divide the market up ." 17. The passive components industry is really an oligopoly , 18. PSC member Baker already sees an " oligopoly " with limited competition. 19. This " radio group " oligopoly controlled the US radio industry into the 1940s. 20. One of the key elements deregulation sought to end were airline oligopolies and monopolies.