Economy, asked by saiquafarheen68, 11 hours ago

What is oligopoly....? Explain it's features.​

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Answered by xxmissriyaxx70
1

Answer:

An oligopoly is an industry which is dominated by a few firms. In this market, there are a few firms which sell homogeneous or differentiated products. Also, as there are few sellers in the market, every seller influences the behavior of the other firms and other firms influence it.

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Answered by sinhanisi7
2

Answer:

An oligopoly is a market characterized by a small number of firms who realize they are interdependent in their pricing and output policies. The number of firms is small enough to give each firm some market power. Context: ... One typical asymmetric oligopoly is the dominant firm.

An oligopoly is a market characterized by a small number of firms who realize they are interdependent in their pricing and output policies. The number of firms is small enough to give each firm some market power. Context: ... One typical asymmetric oligopoly is the dominant firm.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. Therefore, the competing firms will be aware of a firm's market actions and will respond appropriately.

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