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Question
Which of the following forms of the market has few firms and each firm pursues its price and output policy independent of the rival firms?
Which of the following forms of the market has few firms and each firm pursues its price and output policy independent of the rival firms?
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Solution
The correct option is A Non-collusive oligopoly
Under this non-collusive oligopoly, firms function independently. They set up their prices and output levels independently. It is also called competitive oligopoly.
Non-collusive oligopoly
Under this non-collusive oligopoly, firms function independently. They set up their prices and output levels independently. It is also called competitive oligopoly.
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