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Question

(a) What is meant by price rigidity, under oligopoly.
(b) Elaborate the impliation of the conditions of equilibrium of a firm.
 


Solution

(a) Stock refers to the total quantity of a commodity available with the seller at any given time. Whereas, supply refers to that quantity of a commodity which a seller is willing to sell at different prices during a given period of time.
(b) UnitsTPPAPPMPPProducedINRs.inRs.InRs.00110010010022401201403420140180448012060
 

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