oligopoly market is price giver or taker.give the appropriate answer explain it.

In an oligopoly market the individual firms take their own price and output decisions but in doing so they also take into consideration the price and output decisions of other rival firms in the market. This is because in an oligopoly market there exists a high degree of interdependence among the firms. The price and the quantity decisions of a particular firm are dependent on the price and quantity decisions of the rival firms. Thus, an individual firm cannot decide the price and ouput independently rather must take into consideration the probable reactions of the rival firms.