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Oligopoly - short answer


Question 1

Explain why price competition is rare in oligopoly.

Question 2

Explain the phenomenon of sticky prices in an oligopolistic market.

Question 3

Explain two models of an oligopolistic market.

Question 4

Explain why it is often considered that firms in oligopoly will collude over prices and form cartels and other forms of price fixing.

Question 5

Why is it difficult to break into an oligopolistic market?

Question 6

Discuss the various factors which a firm in an oligopolistic market is likely to take into account when deciding upon the price to charge for its product.