Microeconomics

Explain Why Under Oligopoly Conditions Firms Might Wish To Choose Pricing And Output Strategies Question 1

Explain why under oligopoly conditions firms might wish to choose pricing and output strategies

Question

1. Explain why under oligopoly conditions firms might wish to choose pricing and output strategies

together. What is this arrangement called? Why is it difficult for an oligopolist to determine its profit-maximizing price and output?Microeconomics

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