Question

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

Answer 1

Answer:

• Oligopoly can be referred as the state in which a limited competition can be experienced in market.
• The production generally is possessed by small group.
• If the producer wants to create competition in oligopolies, he must promote the services and goods on a high scale to attract more consumers.
• Advertising can be good way to reach more numbers of people.
• The products and services must be be consumer friendly.