In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic.
The split monopolistic supply on the oligopolistic market is delivered by a couple (two or more) entrepreneurs acting together. Monopoly advances a single seller, whose product can be exchange on the market only if an additional seller is there as its contractor, so the monopoly is divided in itself and presents a joined supply. Oligopoly is that divided monopoly. Even divided, the monopolistic profit is derived in the same way in the oligopoly: production is extended to the point where the final part of it generates an income to cover exactly that final part’s cost.
Historical Backdrop
• THOMAS MORE Utopia: oligopoly.
• AUGUSTIN COURNOT Researches into the Mathematical Principles of the Theory of Wealth: duopoly.
• JOHN BATES CLARK The ‘Trust’; The Modern Appeal to Legal Forces in Economic Life: monopoly power.
• KNUT WICKSELL Lectures on Political Economy: joint supply.
