Question

Under the imperfect market, the market in which few firms exists is called as monopoly oligopoly perfect competition monopolistic competition

Answer 1

Explanation:

conditions, total revenue increases at a diminishing rate. the stars in the night sky

Answer 2

Under the imperfect market, the market in which few firms exists is called as oligopoly.

1. In oligopoly market the firms are interdependent on each other to decide the price and output quantity.
2. They also form cartel to avoid competition, avoid entry of new firms, protect their interests and control market prices.
3. Their collusion acts like monopoly.