In this article we will discuss about the characteristics and features of oligopoly. Answer 1. Characteristics of Oligopoly: The main characteristics of an oligopolistic market can be discussed as follows: 1. No. of Firms or Sellers: One of the basic features of oligopolistic market structure is the presence of only a fewer firms. If the […]
Characteristics and Features of Oligopoly (6 Answers)
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Relationship between Total Revenue, Average Revenue and Marginal Revenue
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In this article we will discuss about the relationship between total revenue, average revenue and marginal revenue. (a) Total Revenue (TR): Total revenue is the amount of money that a firm receives for the offer of goods and services in the market. A firm’s total revenue can be calculated as the quantity of goods sold […]
Oligopoly Market: Types, Barriers to Entry, Price Rigidity and Limit Pricing
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In this article we will discuss about:- 1. Meaning of Oligopoly 2. Classification (Types) of Oligopoly 3. Barriers to Entry in Oligopoly Market 4. Price Rigidity – The Kinked Demand Curve 5. Kinked Demand Curve and Price Determination 6. Price Leadership Model 7. Empirical Pricing Methods 8. Price Determination 9. Limit Pricing 10. Reasons for […]