question archive What is the difference between competitive industry and oligopolistic, in terms of demand curve?
What is the difference between competitive industry and oligopolistic, in terms of demand curve?
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What is the difference between competitive industry and oligopolistic, in terms of demand curve?
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The demand curve for the competitive industry and oligopolistic industry differs in shape. The demand curve for competitive industry tends to be downward sloping whereas the demand curve for oligopolistic tends to be kinked. The oligopoly firms face a kinked demand curve because two firms are dominating the market and the motive of both the firms is to increase the profits.
