the welfare loss associated with the outcome in a colluding oligopoly is: a. smaller than that of a perfectly competitive outcome. cross out b. smaller than that of a competitive oligopoly. cross out c. the same as that of a perfectly competitive outcome. cross out d. none of these statements is true.

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20-12-2022
Business

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the welfare loss associated with the outcome in a colluding oligopoly is: a. smaller than that of a perfectly competitive outcome. cross out b. smaller than that of a competitive oligopoly. cross out c. the same as that of a perfectly competitive outcome. cross out d. none of these statements is true.

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anamta123ahmed anamta123ahmed · Answer 1 · 2022-12-24T19:33:37+01:00

The welfare loss associated with the outcome in a colluding oligopoly quite excessive whilst compared to that of competitive oligopolies and perfectly aggressive market because colluding oligopolies get to govern the rate and the increase in charge results inside the welfare loss because the purchaser gets to pay greater all in all.

The correct option is (d).

An oligopoly is a market characterised by a small variety of firms who realise they may be interdependent in their pricing and output rules. The wide variety of companies is small sufficient to offer every firm a few marketplace power.

An oligopoly is a marketplace structure wherein a market or industry is dominated by means of a small wide variety of large sellers or producers. Oligopolies often result from the choice to maximize earnings, that may lead to collusion among businesses.

The unique characteristic of an oligopoly is interdependence. Oligopolies are typically composed of some large firms. each company is so big that its actions have an effect on marketplace situations. therefore, the competing firms may be aware of a firm's market actions and could respond appropriately.

Learn more about oligopoly here : https://brainly.com/question/3227891

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