Question

Which of these practices describe how producers in oligopolies generally try to create competition? Check all that apply.

Answer 1

Answer:

Explanation:

In the situation when the market is oligopolistic the producers try to create the competition in the market through keeping the price of the product low, go for extensive advertising of the product and trying to build up brand loyalty.

Under these types of market situation, there are few sellers, but the buyers are more.  The seller has to keep watch on the competitors and take appropriate action to hold on to the market share or increase it.  

Answer 2

By offering promotions, advertising , and cultivating brand loyalty are the practices that describe how producers in oligopolies generally try to create competition.

Explanation:

• An oligopoly is the market form were competition in the market or industry is held by the small group of large sellers. Oligopoly has there own market structure.

• The oligopoly investments in profit maximization, have the ability to set prices rather than take prices.

• They have high barriers to entry and exit and most important is government licensing and economies of scale. They work on product differentiation, have a non-price-based competition.

Learn more about the practices describe how producers in oligopolies generally try to create competition.

• brainly.in/question/10607668 answered by Indiabrainly.