The goal of an oligopoly is to maximize

Question

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The goal of an oligopoly is to maximize market share to achieve long-run economic profit. The firms in an oligopoly are interdependent, meaning their pricing and output decisions affect each other. Therefore, by having a larger market share, they can have greater pricing power and reap the benefits of economies of scale, reducing their costs and increasing their profits. This is the long-run goal of the oligopolistic firms, and they work towards achieving it by strategic decision-making, such as collusion or price leadership.

The Goal of an Oligopoly Is to Maximize