Firms in an oligopoly are said to be interdependent. What does this mean?
What will be an ideal response?
Interdependence among firms means that the decisions and business strategies of each firm have a significant impact on the decisions, strategies, and profits of the other firms in the oligopoly industry.
Economics
You might also like to view...
Frictional unemployment exists because:
A) firms do not make an attempt to advertise the vacancies they have. B) unemployment benefits are capped in most economies. C) firms and workers have imperfect information about each other and the state of the economy. D) job markets are heavily regulated by the government..
Economics
In the figure above, which of the following represents a money flow?
A) Goods purchased B) Interest C) Capital D) Services sold E) Goods supplied
Economics