Firms in oligopolistic markets tend to

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03-09-2018
Business

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Firms in oligopolistic markets tend to

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pristina pristina · Answer 1 · 2018-09-12T07:29:16+02:00

Answer: Firms in oligopolistic market tend to be interdependent.

Explanation: Oligopoly is a market structure in which a few firms tend to dominate the market. The actions of these firms are interdependent. The kinked shaped demand curve faced by the firms in an oligopoly shows that firms are interdependent on each other. In other words, they must take into account actions of their competitors when making their best production and pricing decisions.