: The oligopoly market is characterised by few largefirms or sellers, each sharing a substantial portion of the totalmarket.
Interdependence amongst the firms
: On account of thefewness of number, the firms are independent in their decision-making with regard to price, production and promotional policies.
: Aggressive advertising and sales promotionexercises is an important characteristic feature of oligopolisticcompetition.
: The oligopoly market consists of a small group ofbig sellers who are extremely interdependent.
Indeterminate Average revenue curve
: The average revenue curveor the demand curve of an oligopoly firm is found to beindeterminate on account of the inability to predict or foresee the
reactions of the competing firms to one’s own business strategies.
or inelastic Price: Heterogeneous Oligopoly ischaracterised by price inelasticity or rigidity.