question archive In an oligopoly market, a
In an oligopoly market, a
Subject:MarketingPrice:2.88 Bought3
In an oligopoly market,
a. a firm must lower price in order to sell more output.
b. each firm faces a demand curve that depends on how the firm's rivals behave.
c. a few firms account for a large portion of industry sales.
d. Both a and b.
e. All of the above.
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c. a few firms account for a large portion of industry sales
In an oligopoly market type, the firms are fewer in number and there are multiple buyers present. The firms can make cartel among themselves and create a monopoly condition in the market. The products sold by the sellers in this market structure are homogenous.
