Oligopoly and its Characteristics, Kinked Demand Curve

Oligopoly and its Characteristics are stated below

Only few firms in the market.

Sell either homogeneous products or differentiated products.

Barriers of entry exist.

Mutual interdependence in decision making.

Non-price Competition exists.

Kinked Demand Curve is described below

  • The demand curve for an oligopolist has two segments with the upper segment being more elastic than the lower segment as shown below.

574_kindle demand curve.png

  • MR follows the shape of AR curve.

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