explain how price and output is determined in oligopoly form of market
Answers
Answered by
0
Answer:
Small output and high prices: As compared with perfect competition, oligopolist sets the prices at higher level and output at low level. 2. Restriction on the entry: Like monopoly, there is a restriction on the entry of new firms in an oligopolistic industry.
Answered by
0
Answer:
1. Small output and high prices: As compared with perfect competition, oligopolist sets the prices at higher level and output at low level. 2.Restriction on the entry: Like monopoly, there is a restriction on the entry of new firms in an oligopolistic industry.
Similar questions