Explain why pricing decisions of a firm in an oligopolistic market depend on decisions of other firms.

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Explain why pricing decisions of a firm in an oligopolistic market depend on decisions of other firms. How is this different from decisions of firms in perfectly competitive markets?

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Economics An Introduction To Traditional And Progressive Views

ISBN: 9780765616685

7th Edition

Authors: Howard J. Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip A. O'Hara, Barbara A. Wiens-Tuers

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Question Posted: Nov 10, 2023 10:10 PM

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Explain why pricing decisions of a firm in an oligopolistic market depend on decisions of other firms.

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In an oligopolistic market a small number of large firms dominate the industry Unlike in a perfectly competitive market where there are many small firms producing identical products and have no influe...View the full answer

Economics An Introduction To Traditional And Progressive Views

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