Question

Firms in an oligopoly
Options
1. Are independent of each other's action
2. Can each influence the market price
3. Charge a price equal to marginal revenue
4. All of these​

Answer 1

Answer:

Firms operating under conditions of oligopoly are said to be interdependent , which means they cannot act independently of each other. A firm operating in a market with just a few competitors must take the potential reaction of its closest rivals into account when making its own decisions.

Explanation:

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