--%>
Assignment Help - homework help

What is Oligopoly, explain in brief

What is Oligopoly? Explain in brief.

E

Expert

Verified

Oligopoly is a situation wherein there are so only some sellers which each of them is conscious of the results on the price of the supply. It is the individually places on the market. In words of J .Stigler `Oligopoly is that situation wherein a firm bases its market policy in part upon the expected behavior of some close revels. Additionally, they may produce homogeneous or differentiated products.

   Related Questions in Managerial Economics

  • Q : Forecasting demand what are the

    what are the criteria for good forecasting

    		•
  • Q : What did professor Hidbon illustrates

    What did professor Hidbon illustrates about Demand?

    		•
  • Q : Features of Marginal costing Write down

    Write down the features of Marginal costing?

    		•
  • Q : Tax when price elasticity of

    When the ratio of the price elasticity of demand of a taxed good associate to its price elasticity of supply increases, tax is: (w) revenue will fall when tax rates are raised. (x) hikes will cause buyer's total outla

    		•
  • Q : Wage rate and price of leisure

    Increases within the wage rate all the time: (w) lack impact on the relative price of leisure. (x) increase the relative price of leisure. (y) decrease the relative price of leisure. (z) increase the quantity of individual labor supplies.

  • Q : Labor Supplies in Competitive Markets

    The individual firm in a purely competitive labor market: (1) faces a perfectly elastic supply of labor at the equilibrium wage. (2) faces a perfectly inelastic supply of labor at the equilibrium wage. (3) has a perfectly elastic demand for labor at t

    		•
  • Q : Pure economic rents Pure economic rents

    Pure economic rents for different parcels of land do not reflect differences within their: (1) marginal productivities. (2) fertility. (3) quantities of valuable minerals and ores. (4) amounts of capital improvements. (5) relative capability to reduce

    		•
  • Q : LEAST probable backward bending supply

    The supply curve of labor is LEAST probable to be “backward bending” for: (1) an individual worker. (2) the economy as a whole. (3) highly specialized industries which are main employers of dedicated PhDs hired only after

    		•
  • Q : States the term Demand Analysis States

    States the term Demand Analysis?

    		•
  • Q : Illustrate signalling by example If

    If interviewing for a job like a bill collector for a loan shark, Bob mentions his degree into martial arts by the Hard Knox Reformatory, his summer internship along with BreakUrLegs, Inc., as well as his family links. Bob’s casual discussion of such credentials

    		•