Equilibrium in oligopoly is different from other market, Ask an Expert

Economics

Equilibrium in oligopoly is different from other market structures because:

There is no single equilibrium quantity.

Each firm's action influences what the other companies want to do.

There is no single equilibrium price.

The firms seek to maximize joint profit rather than their own individual profit.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91708517

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