Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Competitive vs oligopolistic? - A historical account of the development of the cotton textile industry in England argued:
The cotton textile industry was shaped by ruthless competition. Rapid growth in demand, low barriers to entry, frequent technological innovations, and a high rate of firm bankruptcy all combined to form an environment in which oligopolistic competition became almost impossible.
Explain how each of the factors described here would contribute to making the cotton textile industry competitive rather than oligopolistic. -
