An oligopoly has a small number of firms, are price makers either pricing collectively or have price leaders, profit is made & there are high barriers to entry. (Not an exhaustive list).
Is this similar to the field of psychiatry?
(On top of this, in Australia, patients receive large rebates for appointments (a $400 appt for 30 mins costs me $80AUD)… if this market is an oligopoly are high prices also being supported by the gov indirectly through subsidies?)
With kindness,
Is the field of psychiatry an oligopoly market?
byu/francis-02 inAskEconomics
Posted by francis-02