1. Cartel: A cartel is when a group of firms decide to agree on leveling out the output. In some countries, output supply needed might be more than other countries or more than the specified output level. Thus, it might be a problem in some countries.
2. Collusions: Collusions are informal agreements done between firms in an oligopoly to ristrict competition. Thus, new firms my not be able to set up and this may cause dificiency of choice for customers.
The disadvantages of oligopoly include unrealistic setting of prices. It also fails to establish the market because most of it are captured by larger firms.
The disadvantages and advantages of collusion
i dont know im looking for the answer too. :/
Tel me also advantages and disadvantages of Oligopoly?
oligopoly
Oligopoly!
The disadvantages and advantages of collusion
i dont know im looking for the answer too. :/
Tel me also advantages and disadvantages of Oligopoly?
oligopoly
Oligopoly!
Oligopolistic
Oligopoly
in oligopoly what is the nature of price elasticity
Oligopoly is a market from where large numbers of buyers contact few sellers for the purpose of buying and selling things. The different types are a pure oligopoly, a differentiated oligopoly, a collusive oligopoly, and a non-collusive oligopoly.
An oligopoly is an intermediate market structure between the extremes of perfect competition and monopoly. Oligopoly firms might compete (noncooperative oligopoly) or cooperate (cooperative oligopoly) in the Marketplace.
Oligopoly
Oligopoly is a market with small number of buyers and sellers.