The real estate development market in Indian can exhibit monopolistic and oligopolistic tendencies. For example, oligopolistic firms may achieve economies of scale that would elude smaller firms. It assumes economies of scale and oligopolistic market structure and explains when industrialization would happen. Markups tend to be higher to the extent that oligopolistic firms have market power. Their markets are mostly oligopolistic with intense competition. Fudenberg and Tirole also created a taxonomy of strategic effects in oligopolistic competition models. Changes in the spot market favored competition and made it more difficult for oligopolistic agreements. Oligopolistic competition can give rise to both wide-ranging and diverse outcomes. Both markets, however, are oligopolistic, i.e., there are limited numbers of sellers and buyers (oligopsony). There is no single model describing the operation of an oligopolistic market.