Question

State two main feature of oligopoly ​

Answer 1

Answer:

Buyers have only imperfect knowledge as to price, cost and product quality. The distinctive feature of an oligopoly is interdependence. Oligopolies are typically composed of a few large firms. Each firm is so large that its actions affect market conditions.

Explanation:

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Answer 2

Answer:

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write any 2 of the following

Explanation:

The main features of oligopoly are elaborated as follows:

• Few firms: ADVERTISEMENTS: ...
• Interdependence: Firms under oligopoly are interdependent. ...
• Non-Price Competition: ...
• Barriers to Entry of Firms: ...
• Role of Selling Costs: ...
• Group Behaviour: ...
• Nature of the Product: ...
• Indeterminate Demand Curve