what is oligopoly market in economics and what are the features of the oligopoly market?

Give at least two examples of firms in a oligopoly market structure and explain how they meet the characteristics of that market structure.

Consider two firms in the Australia market. The table below depicts each firm’s profits, depending on what price both firms charge.   a. Find (if any) each firm's dominant strategy. b. Which strategy does each firm choose in equilibrium when collusion (joint agreement) is not allowed? c. Suppose that collusion is allowed between the two firms. Could these firms benefit from collusion? Why or why not?

What is an oligopoly and how do firms behave and conduct themselves in this market structure? What are cartels and what is a really famous cartel in the oil industry? What is game theory and describe in detail the different games discussed in the textbook. What is the Nash Equilibrium and why is it so often the strategy chosen by a player?

Who was one who developed duopoly model in the economics??

Explain the following. A. Economies of Scale B. Oligopoly

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

Firms in a perfectly competitive market are able to produce as many products as they want. How do they determine how many to make? Monopolies can charge as much as they want for a good but what is the tradeoff for the high price they receive? Oligopolies produce at a quantity and price that is different than Perfect Competition and Monopolies, why does this happen? Use graphs to demonstrate your answers to the first two markets and use a duopoly table example for an Oligopoly. **Please don't be too broad** Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure

What is the minimum number of firms required for an industry to be an oligopoly? a. many b. 100 c. 1 d. 3

Define oligopoly in your own words and elaborate on the characteristics of oligopoly.