Explain the features of oligopoly, how is price and output determined under oligopoly.
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Interdependence: The foremost characteristic of oligopoly is interdependence of the various firms in the decision making. ...
Advertising: ...
Group Behaviour: ...
Competition: ...
Barriers to Entry of Firms: ...
Lack of Uniformity: ...
Existence of Price Rigidity: ...
No Unique Pattern of Pricing Behaviour:
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