Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / Which of the following conditions is characteristic of oligopoly? A
Which of the following conditions is characteristic of oligopoly?
A. A rival firm matches price decreases of rivals, but fails to match any price increases of rivals.
B. A rival firm matches price increases of rivals, but fails to match any price decrease of rivals.
C. A rival firm fails to match both price increases or price decreases of rivals.
D. Rival firms act independently of each other.
E. There is such a large number of firms that firms cannot exercise any price strategy.
Which of the following conditions is characteristic of oligopoly? (A) A rival firm matches price decreases of rivals, but fails to match any price increases of rivals. These behaviors result in a demand curve that is "kinked" at the current price with inelastic demand above the price and elastic demand below it.
