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Abstract
The automobile market is often described as an oligopoly with product differentiation. Economies of scale in the fields of production, sales, advertising, and consumers' popular support all give overwhelming advantages to large enterprises, thus making the automobile industry highly liable to become an oligopoly industry.
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The automobile market is often described as an oligopoly with product differentiation. Economies of scale in the fields of production, sales, advertising, and consumers' popular support all give overwhelming advantages to large enterprises, thus making the automobile industry highly liable to become an oligopoly industry.
Key concepts: Oligopoly, Industrial organization, Product differentiation, Competition (biology), Business, Automotive industry, Product (mathematics), Economies of scale