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Homework answers / question archive / In what capacity does an oligopoly firm have the ability to reduce price elasticity and move closer toward or into inelastic territory?
In what capacity does an oligopoly firm have the ability to reduce price elasticity and move closer toward or into inelastic territory?
An oligopolistic firm has the ability to reduce price elasticity and move closer toward or into inelastic territory by controlling the output of supply. The less quantity of the good or service in question in the market, the less elastic the good or service in question will be.
