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प्रश्न
Explain the meaning of the following features of the Oligopoly Market :
(a) Non-Price Competition
(b) Few Sellers
उत्तर
The features of the Oligopoly Market are explained as follows:
- Non-Price Competition: Oligopoly firms tend to ignore price competition. They stress on the non-price competition. They adopt a policy of aggressive non-price competition. The products of the firms in oligopoly markets have the same price.
- Few Sellers: There exist few but large and dominating firms. These firms account for the majority of market supply, thereby control the market price and quantity of the output.
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संबंधित प्रश्न
Answer the following question.
Why are the firms said to be interdependent in an oligopoly market? Explain.
Distinguish between cooperative and non-cooperative oligopoly
Explain the cause of the limited number of firms in an oligopoly market.
Why is the number of firms small in oligopoly? Explain.
Why is the number of firms small in an oligopoly market? Explain.
Choose the correct answer from given options
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Briefly discuss the importance of Selling Cost under oligopoly market.
Sometimes, a firm considers the action and reaction of its rival firms while determining its price and output levels.
Which market form does such firm belong to?
