What are the features of oligopoly?
What are the features of oligopoly?
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Newton D
Buyers have only imperfect knowledge as to price, cost and product quality. The distinctive feature of an oligopoly is interdependence. Oligopolies are typically composed of a few large firms. Each firm is so large that its actions affect market conditions.
manish1008
Under the Oligopoly market, the sellers are few, and the customers are many. Few firms dominating the market enjoys a considerable control over the price of the product. … Hence, there is a complete interdependence among the sellers with respect to their price-output policies.