oligopoly

Why would Verizon and t-mobile be an oligopoly and not Hannah's bakery?
Verizon
T-mobile
Well, a corporation can only be an oligopoly when a few companies exert significant control over a given market. When two different corporations are competing against each other that makes an oligopoly.
hannah's bakery
Oh OK! So does that mean all these different oligopoly phone companies have a lot of competition since there is a lot of phone companies
Most oligopoly companies are competing with each other Because of a limited number of players in an oligopolistic market, competition is limited, allowing every firm to operate successfully.

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