Question

How are oligopoly firm highly interdependence.

Answer 1

interdependence:under oilopoly since a few firms hold a significant sharein total output of industry is firm as affected by price and output decisions of Rival firms . hence,a firm takes into account action and reaction of its completing firms while determined into price and output levels.

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Answer 2

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An oligopoly is a situation where a few firms sell most or all of the goods in a market. Oligopolists earn their highest profits if they can band together as a cartel and act like a monopolist by reducing output and raising price.

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