differentiated oligopoly exists where a small number of firms are:,

A differentiated oligopoly is a market structure in which small number of firms dominate the industry and compete with one another based on their product or service quality. In this type of market, you will find that there are few sellers, but they have different goods to offer customers. The classic example of this is that some firms sell the same good at different prices while others may have a slightly higher price so as to differentiate themselves from other sellers. It is a form of market structure where only few firms exist, but they are not homogeneous. They offer different products or services so as to differentiate themselves from other sellers in the industry. Examples include differentiated oligopolies such as industries like fast food restaurants and grocery stores with their differing qualities, themes, and layouts; whereas in an example of perfect competition all companies would sell identical goods at roughly equivalent prices. The good news is that research has found that consumers may have better purchasing experience because there are fewer choices while still having some variety when shopping (Reynolds & Colella). This means more time saved on decision making which can be used for something else:) It also creates higher customer loyalty than what you might find under