Question

State any two features of Oligopoly.

Answer 1

1. Few sellers and many buyers: A few merchants offer huge amounts of items in an oligopoly market. The number of sellers is modest, but everyone has a large market for their commodities.
2.  Mutual Interdependence: As a result, there is a high level of mutual dependency, which implies that one firm's pricing and production plans have a significant impact on the pricing and production strategies of the other firms in the market.