features of oligopoly market? also explain
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There are many features of oligopoly market
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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An oligopoly is an industry which is dominated by a few firms. In this market, there are a few firms which sell homogeneous or differentiated products. Also, as there are few sellers in the market, every seller influences the behavior of the other firms and other firms influence it.
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