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	oligopoly
	... (Layton & Robinson & Tucker, 2002, p173) In my opinion, the industry of supermarkets best fits into oligopoly. Oligopoly is a market structure characterised by (1) few sellers, (2) either a homogeneous or a differentiated product, and (3) barriers to market entry. (Layton & Robinson & Tucker, 2002, p245) (1) Few sellers In oligopoly a small number of firms dominate the market regardless of the total number of firms that operate in that market. ... Under oligopoly, firms can produce either a homogeneous or a differentiated product or service. ... (3) Barriers to entry Similar to monopoly, formidable barriers to entry in an oligopoly market product firms from new entrants. Approximate Word count = 487 Approximate Pages = 1.9 (250 words per page double spaced)

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