Chapter10: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 20SQ
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The long-term planning in the oligopoly market should consider the reactions of other participants. In other words, any decision taken in an oligopoly market should have a cooperative outcome.
Cooperation in an oligopoly means that the competing businesses collectively make the decision to cooperate which makes them stand in a better position. It increases the profitability of all firms involved.
Please Answer the following question:
How is a cooperation achieved by firms? Please discuss.
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