When would it be most advantageous for an oligopolist to raise its price?

Question

Quizplus · Accepted Answer

When an oligopolist raises its price, it can increase its profits as long as its competitors follow suit and also raise prices. If only one firm raises its prices, it risks losing customers to its competitors who may keep their prices lower, resulting in lower profits. Therefore, it is most advantageous for an oligopolist to raise its price when it can be sure that other firms will also raise their prices.

When Would It Be Most Advantageous for an Oligopolist to Raise