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Why we cannot determine the demand curve\ revenue curve under oligopoly market form?

Posted by Shruti Sharma 7 years, 3 months ago

CBSE > Class 12 > Economics

1 answers

Supriyo Ghosh 6 years, 9 months ago

Demand curve shows relationship between price and quantity demand of a commodity. In oligopoly form of market, there is a heavy interdependence among the firms. Any change in price and output decision by a firm is faced by similar reaction from rival firms in the Industry. for eg. a firm A reduces its price by 10% , accordingly demand for its product must rise. but if the rival firm B in counter reaction reduces its price by 15%, customer from firm A will shift to firm B. No increase in demand of Firm A . So no clear relation between price of commodity and quantity demanded can be traced. Hence no demand curve can be drawn.

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