Which of the following is an example of an oligopoly market with homogeneous products?
wheat
mobile phones
electricity
cement
Which of the following markets is an oligopoly?
“In a hypothetical market of mobile phones, the brand AWAAZ was leading the market share. Its nearest competitor VAARTA suddenly changed its strategy by bringing in a new model of the mobile phone at a relatively lesser price. In response, AWAAZ too slashed its price.”
Based on the above information, identify the form of market represented and discuss any one feature of the market.
Or
Discuss the primary reason for ‘indeterminateness of demand curve’ under the oligopoly form of market.