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Oligopoly ppt

Oligopoly ppt

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Published by Susheel Soundalge
these project is on oligopoly
these project is on oligopoly

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Categories:Topics, Art & Design
Published by: Susheel Soundalge on Mar 14, 2013
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05/27/2014

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O
LIGOPOLY
 
The term ‘oligopoly’ has been derived from twogreek words, ‘oligo’ which means ‘few’ and ‘Polein’ which means sellers. Thus oligopoly is
an abridged version of monopolistic competition. It is a competition among few big sellers each one of them selling either homogenous or heterogeneous products. Each seller under oligopoly competition has a market share substantial enough to influence the price and output decisions of rival firms.Oligopoly markets can be classified into two namely pure or homogenous oligopoly and differentiated or heterogeneous oligopoly 
.
 
C
HARACTERISTIC
 
FEATURES
 
OF 
 
OLIGOPOLY 
 
1) 
Few Sellers 
: The oligopoly market is characterised by few largefirms or sellers, each sharing a substantial portion of the totalmarket.
2)
 
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.
3)
 
Selling costs 
: Aggressive advertising and sales promotionexercises is an important characteristic feature of oligopolisticcompetition.
4)
 
Group costs 
: The oligopoly market consists of a small group ofbig sellers who are extremely interdependent.
5) 
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.
 
6)
Price Rigidity
 –
or inelastic Price: Heterogeneous Oligopoly ischaracterised by price inelasticity or rigidity.

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