This Term is taken from the Class 12 Economics NCERT book. This type of market seems similar to a perfect competition market but I didn’t understand and find a better explanation in the book. Do you know?
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This Term is taken from the Class 12 Economics NCERT book. This type of market seems similar to a perfect competition market but I didn’t understand and find a better explanation in the book. Do you know?
When in an Oligopoly market firms cooperative with each other in determining price and output, It is called cooperative monopoly.
In compared with other forms of imperfect markets, we can say that if there is only one firm it is monopoly. Two firms – Duopoly, Few firms like 5 -6 firms. It Is Oligopoly
Example – Mobile companies could be the apt example of Oligopoly market. They take decision like raise in tariffs. while providing internet usage facility to customer as per their independent decision.