In oligopoly, competing in prices leads to the same equilibrium outcome as competing in quantities.

a) True

b) False

In oligopoly, competing in prices leads to the same equilibrium outcome as competing in quantities. a) True .

In an oligopoly, competing in prices leads to the same equilibrium outcome as competing in quantities. Equilibrium refers to the point in which opposing forces equalize. For example, the demand and supply of specific products in the market are equal. In an oligopoly situation, firms have the power and ability to change the prices of their products and services. Thus, each firm can decide to increase or decrease prices to control its overall output. Similar changes also occur when looking at the quantities produced by each firm. Firms can decide to increase or decrease quantity to control prices.