Explain the implication of a nonprice competition in an Oligopoly market?

Set-up the Oligopoly model in a game theoretical prisoner’s dilemma framework. Explain briefly the strategies and how you reach the Nash Equilibrium.

Question 1.1  Mutual interdependence would tend to limit control over price in which market model?                 Monopolistic competition        Pure competition        Pure monopoly        Oligopoly

What is mutual interdependence important under oligopoly,but not so important under perfect competition,monopoly,or monopolistic competition?

What are the main features of a oligopoly market structure. Explain in detail with explanation of features too.

Which of the following is a feature of an oligopoly? a. group behavior among firms b. firms that are all similar in size c. low barriers to entry d. highly flexible pricing

explain what is the difference between firms in monopolistic competition and firms in oligopoly. What does this difference mean for prices and quantities and for economic profit?

Compare the quantity and price of an oligopoly tothose of a perfectly competitive market.

Discuss how oligopoly market structure can help explain some of the decision-making processes by firms?

Question 14 An oligopoly is a market structure, dominated by more firms than a monopolistic structure. False True