explain classification of oligopoly market ?
Oligopoly is a market structure defined by the existence of a few large firms, high degree of mutual interdependence, restricted entry of firms, etc. On the basis of mutual dependence, the oligopoly market is classified into two types namely, collusive and non-collusive.
These two types are extensively covered in our study material. You can find them in Microeconomics- Non-Competitive Market (Lesson 3) of our study material.
oligopoly market in which producer are very small nd each seller influence the market,there are few seller,price indiscrimination,group behaviour nd advertisement expences in the market , advertisement expense include price nd non-price expense.Price expense in which firm reduced the price of commidity for sell. Non-price price expense firm cannot reduced the price of commidity,but firm increase publicity of the commodity for sell. Oligopoly include two types of market collusive nd non-collusive.