Oligopoly market is known for _________.

price discrimination

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price flexibility

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price rigidity

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none of the above

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Solution

The correct option is B price rigidity
Oligopoly is a market situation in which there are few firms dominating in the market. The market is highly concentrated. Few firms are grouped in certain numbers. There is also price stickiness seen in oligopoly market. Price rigidity is a feature of an oligopoly firm. Hence, oligopoly market is known for price rigidity.

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