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Non-Competitive Markets — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsNon-Competitive Markets1 Mark
Question
Give the meaning of 'Oligopoly'.
✓

Answer

Oligopoly is a market situation in which an industry has only a few firms (or few large firms producing most of its output) mutually dependent for taking decisions about price and output.

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