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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.
in oligopoly what is the nature of price elasticity
Explain how price and output decision are taken under conditions of oligopoly.
Oligopoly
An oligopoly is characterized by a market with a few firms having a negligible effect on price.
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.
in oligopoly what is the nature of price elasticity
Explain how price and output decision are taken under conditions of oligopoly.
Oligopoly
An oligopoly is characterized by a market with a few firms having a negligible effect on price.
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If in an oligopoly market, the firms compete with each other, it is called a non-collusive, or non-cooperative oligopoly. If the firm cooperate with each other in determining price or output or both, it is called collusive oligopoly, or cooperative oligopoly. Collusive oligopoly exists when the firms in an Oligopolistic market charge the same prices for their products, in affect acting as a monopoly but dividing any profits that they make. Non collusive oligopoly exists when the firms in an oligopoly do not collude and so have to be very aware of the reactions of other firms when making price decisions.
Oligopoly
what are the conditions necessary for price leadership
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.
what are the conditions necessary for price leadership
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