Question

Difference between Co operative and non Co operative oligopoly

Answer 1

Cooperative oligopoly is a form of the market in which there are few firms in the market and all decide to avoid competition through a formal agreement. They collide to form a cartel, and fix for themselves output quota and market price. Non-cooperative oligopoly is a form of the market in which there are few firms in the market and each firm pursues its price and output policy independent of the rival firms. Each firm tries to increase its market share through competition.

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Answer 2

Answer:

Cooperative or collusive oligopoly is a form of market in which few firms form a mutual agreement to avoid competition. They form a cartel and fix the output quotas and the market price. The leading firm in the market is accepted by the cartel as a price leader. All the firms in the cartel accept the price as fixed by the price leader.

Non-cooperative or non-collusive oligopoly is a form of market in which few firms in the industry. Each firm has its price, and output policy is independent of the rival firms in the market. The firm increases its market share through competition in the mark