Abstract
An oligopoly is defined as a market structure with a small number of firms that dominate an industry, of which none can keep the other from significantly influencing the market. This market structure is distinctly different from other market forms. In today’s market, the oligopoly structure is the most common market structure. It can be argued that the few pharmaceutical companies who market, manufacture, and distribute opioids all over the world constitute “opioid oligopoly.” Bachtell has reported that dozens of opioid manufacturers, distributors, pharmacies, and doctors turn a blind eye to the opioid crisis swamping the United States.
Highlights
An oligopoly is defined as a market structure with a small number of firms that dominate an industry, of which none can keep the other from significantly influencing the market.[1] this market structure is distinctly different from other market forms
Bachtell has reported that dozens of opioid manufacturers, distributors, pharmacies, and doctors turn a blind eye to the opioid crisis swamping the United States.[2]
The current consensus is that numerous parties are responsible for the present-day opioid epidemic.[3, 4] the opioid-related death rates of nearly two decades has significantly increased and out-paced the short-term data regularly cited by policymakers while assessing the epidemic and the effectiveness of the opioid crisis public health response.[5, 6]
Summary
An oligopoly is defined as a market structure with a small number of firms that dominate an industry, of which none can keep the other from significantly influencing the market.[1] this market structure is distinctly different from other market forms.
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