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Question
List the three different ways in which oligopoly firms may behave.
List the three different ways in which oligopoly firms may behave.
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Solution
Oligopoly firm may :
(i) Co-operate with each other and formally have a contract of their policies
(ii) Co-operate with each other but have an informal understanding
(iii) Not co-operate with each other
Oligopoly firm may :
(i) Co-operate with each other and formally have a contract of their policies
(ii) Co-operate with each other but have an informal understanding
(iii) Not co-operate with each other
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