Question

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

Answer 1

Thanks for this interesting question.

Oligopoly is a state where there is limited competition in the market. The production is owned by a small group of people. 

Trying to create competition in oligopolies, the producers; 

(i) Offer Promotions: They promote their goods and services on high scale to invite more audience. 

(ii) Advertising: They advertise to reach out more audience 

(iii) Cultivate Brand Loyalty: They become customer friendly and create brand loyalty. 

Answer 2

Answer:

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