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CBSE Class 12-commerce Answered

Under oligopoly, the firm’s demand curve is indeterminate. Justify.
Asked by Topperlearning User | 26 Apr, 2016, 07:51: AM
answered-by-expert Expert Answer

As there is high degree of interdependence between the firms, the firms demand curve is indeterminate under oligopoly. Price and output policy of one firm has significant impact on the rival firm’s price and output policy in the market. It is hard to estimate change in firm’s sales caused by a change in price. Clear relationship between price and sales cannot be established in the market.

Answered by | 26 Apr, 2016, 09:51: AM
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ANSWERED BY EXPERT ANSWERED BY EXPERT
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ANSWERED BY EXPERT ANSWERED BY EXPERT
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Asked by Topperlearning User | 26 Apr, 2016, 07:51: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
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Asked by Topperlearning User | 26 Apr, 2016, 07:51: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
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