Oligopoly Diagram Explained. An industry which is dominated by a few firms. Hence firms stick to the same price over time leading to price rigidity under oligopoly.
An industry which is dominated by a few firms. They can either scratch each other to pieces or cuddle up and get comfortable with one another. The idea of using a non conventional demand curve to represent non collusive oligopoly i e where sellers compete with their rivals was best explained by paul sweezy in 1939.
An industry which is dominated by a few firms.
And to explain the price rigidity in this market conventional demand curve is not used. The model may be presented in many ways. Is there a stable profit maximising equilibrium in this model. For additional info see pajholden s vide on the kinked demand curve.
