In a non-collusive oligopoly if one firm increased its price what would the other firms likely do? What about a price decrease? How is this related to a kinked demand curve?

Q: What is a characteristic of an oligopoly? Group of answer choices Easy entry and exit One firm Many,…

A: A market structure that is dominated by two or more entities and has the ability to set and affect…

Q: What are the incentives for firms in an oligopoly to collude or work together? Has price collusion…

A: Oligopoly: There are only a few but large producers/firms, who have catered to a huge group of…

Q: Why do oligopolies exist? Explain if you regularly purchase products owned by an oligopoly

A: Oligopolies, where a handful of firms dominate a market, thrive for a mix of reasons. High barriers…

Q: Why are firms said to be independent in an oligopoly market? Explain

A: # out of the four market structures the market structure which is categorised by few sellers is…

Q: Explain why there are only a few firm's in an oligopoly market.

A: # 4 Main market forms are:- Perfectly competitive market Monopolistic market Monopoly Oligopoly

Q: Why do consumers fair better under a Stackelberg Oligopoly than a Cournot Oligopoly?

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Explain why an industry with economies of scale for larger firms tends to be an oligopoly. Why don't…

A: The cost advantages which is  reaped by companies when production becomes efficient is known as…

Q: If a market structure is an oligopoly, do Lexus, Cadillac, and Lincoln engage in sticky pricing? Who…

A: There are 4 main market forms which are as follows:- (1) Perfectly competitive market (2) Monopoly…

Q: How is an oligopoly market different from monopolistically competitive market in respect of price…

A: In oligopoly, there are lesser number of firms and they own large shares of the market, whereas in…

Q: Explain and describe the kinked demand curve of a firm in an oligopoly.

A: Oligopoly market structure refers to the market system where few firms dominate the market. The…

Q: What are the major characteristics of a firm competing under conditions of monopolistic competition?…

A: 1.The monopolistic competition is the market condition in which there are many producers and they…

Q: The market for smartphones is an Oligopoly market.  Illustrate how equilibrium price and quantity…

A: The oligopoly is the market structure where the number of firms is less in market. There is a…

Q: What is mutual interdependence important under oligopoly,but not so important under perfect…

A: Market Structure:-  It is described as a set of qualities that determine a market's kind.…

Q: Explain the kinked demand hypothesis of oligopoly market. What is its impact on oligopoly pricing?

A: Oligopoly showcases are markets overwhelmed by few providers. They can be found in all nations and…

Q: What are the incentives for firms in an oligopoly to collude or work together? Explain a past case…

A: There are only a few significant producers/firms that cater to a vast number of clients. Prices (P)…

Q: Why does interdependence of firms play a major role in oligopoly but not in perfect competition or…

A: The firms in a market of oligopoly are very few yet huge, producing similar commodities and…

Q: What is the cost to a firm in an oligopoly that fails to take its rivals’ actions into account?

A: Oligopoly is the form of market with large number of buyers and few but big sellers, selling similar…