--%>

Illustrates the characteristics of Oligopoly

Illustrates the characteristics of Oligopoly?

E

Expert

Verified

Oligopoly:

It is a distinct market condition. This has the given features as follows:

  • There is an component of Monopoly
  • Advertising must be effective.
  • The firms are interring dependent for decision making.
  • Firms must have group behavior.
  • The number of producers or firms or sellers is extremely small.
  • Indeterminateness of demand curve.
  • Product is the same or closes substitutes to each other.

 

   Related Questions in Managerial Economics

  • Q : Model of purely competitive resource

    The model of purely competitive resource markets describes how: (1) U.S. income distribution patterns are determined. (2) wages are determined in the United States. (3) resource prices would be determined in efficient markets. (4) competition leads to

  • Q : Illustrates the types of Demand

    Illustrates the types of Demand Forecasting?

  • Q : Define the term full cost concept

    Define the term full cost concept.

  • Q : Categorized the Positive income

    Categorized the Positive income Elasticity?

  • Q : Highest income of supply of labor This

    This worker’s weekly income in this demonstrated figure would be the highest at: (w) point a. (x) point b. (y) point c. (z) point d. How can I solve my Economics problem? Please suggest me the correct answer.

  • Q : What is Scarcity Definition of economics

    What is Scarcity Definition of economics?

  • Q : Illustrates the plethora of definitions

    Illustrates the plethora of definitions regarding subject matter of economics?

  • Q : Explain Simultaneous equation method of

    Explain the Simultaneous equation method of Demand Forecasting.

  • Q : Determine the total Revenue from origin

    Refer to figure as sketched below. Why is the total revenue curve a ray from the origin: w) since revenue increases at an increasing rate. x) since revenue increases at a decreasing rate. y) since the firm can sell its product at a constant price. z) since the firm sh

  • Q : Extra revenue from the extra output

    Extra revenue by the extra output produced from an additional unit of a resource is the marginal resource: (1) profit to the firm. (2) revenue product. (3) iso-utility curve. (4) resource cost. (5) productive value.

    Discover Q & A

    Leading Solution Library
    Avail More Than 1419919 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1944185
    Asked

    3,689

    Active Tutors

    1419919

    Questions
    Answered

    Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.