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Question
What is the difference between collusive and non-collusive oligopoly?
Distinguish Between
Solution
| S. No. | Feature | Collusive Oligopoly | Non-Collusive Oligopoly |
| 1. | Cooperation Among Firms | Firms collaborate and reach agreements on prices or output levels to maximise used revenue. | Businesses don't work together; they choose their prices and output. |
| 2. | Market Control | Increases market control and price stability as a result of coordinated activities. | Increasing competition among enterprises may lead to price wars and more price fluctuation. |
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Forms of Market Structure
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RELATED QUESTIONS
Differentiated products is a characteristic of ______.
Indian Railways is an example of ______.
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form for the following:
Perfectly elastic demand.
Identify the market form for the following:
Telecom industry in India.
Which type of market structure is the following? Give reason.
Lipstick
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
What do you mean by homogeneous products?
