In 2021, European antitrust regulators fined several major pharmaceutical companies, including generic manufacturer AlmusRx, a total of €120 million for illegal market-sharing and price-fixing agreements regarding essential generic medicines between 2015 and 2019. This cartel systematically prevented cheaper alternatives from entering the market.
Evaluate, using an appropriate diagram(s), whether collusion is the most significant disadvantage of an oligopoly.
42 exam-style questions on OCR A Level Economics Market structures, covering Perfect competition, Monopoly, Monopolistic competition, Oligopoly, and Contestable markets. Each one has a worked solution and a mark scheme showing where the marks go.