Advertising is very important in order satisfy the needs of small group of sellers who may be limited in resources to advertise for themselves as individual entities. Co-op advertising is common place for this group many of times.
Oligopoly!
oligopoly
Oligopolistic
Oligopoly
in oligopoly what is the nature of price elasticity
Advertising is important because it promotes a product or a goods
Oligopoly!
oligopoly
Oligopoly
Oligopolistic
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.
The market structure that typically uses the most advertising is oligopoly. In oligopolistic markets, a few firms dominate, and they often engage in significant advertising to differentiate their products and capture market share. This competitive advertising helps them maintain visibility and influence consumer preferences, as well as respond to rivals' marketing strategies. Industries such as automobiles and consumer electronics are prime examples of oligopolies that heavily invest in advertising.
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.
a pure oligopoly is when few producers dominate the production of on item
Oligopoly is a market with small number of buyers and sellers.
Oligopoly