It is reasonable to expect that if one firm in an oligopolistic market raises price,the its competitors will do the same so that all firms can earn increased revenues.

Question

Quizplus · Accepted Answer

In an oligopolistic market, if one firm raises its prices, its competitors may not follow suit because they could seize the opportunity to increase their market share by keeping prices lower, thus attracting more customers.

It Is Reasonable to Expect That If One Firm in an Oligopolistic