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Market Power and Monopoly

Oligopolistic...

Question

Oligopolistic prices tend to be ________.

A

Sticky

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B

Vary

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C

Highly fluctuated

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D

None

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Solution

The correct option is A Sticky
Oligopoly is a market with a few firms and in which a market is highly concentrated. It can be also called as one form. Following are the characteristics of oligopoly:
Interdependence.
price rigidity
Element of monopoly.
As we saw in the characteristics that there is price rigidity, hence, oligop[olistic price tends to be sticky.

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