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(a) there prevail price stickiness or price rigidity in oligopoly markets. Whatever price has come to stay will stay for a long time and frequent change will not take place." Explain the model of Oligopoly which best explains this characteristic
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Analysis of Market
Oligopoly: Definition, Characteristics and Concepts
Oligopoly Origin
The word Oligopoly is derived from two Greek words – ‘Oligi’ meaning ‘few’ and ‘Polein’ meaning ‘to sell’.
Oligopoly Definition and Meaning
Oligopoly is defined as a market structure with a small number of firms, none of which can keep the others from having significant influence.
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