An attempt by one oligopolist to increase its market share by cutting prices will leave competitors unaffected.

Name: An attempt by one oligopolist to increase its market share by cutting prices will leave competitors unaffected.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

If one oligopolist cuts prices to increase its market share, other competitors may respond by also cutting prices or taking other actions to maintain their own market share. This can lead to a price war and affect all firms in the market.

An Attempt by One Oligopolist to Increase Its Market Share