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As a group, oligopolists would always be better off if they would act collectively.

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As a group oligopolists would always be better off if they would act collectively as a single monopolist.

Why do oligopolists act together?

  • By acting together oligopolistic firms can hold down industry output, charge a higher price, and divide up the profit among themselves.
  • When firms ac t together in this way to reduce output and keep prices high, it is called collusion.

What are the advantages of oligopoly?

  • An oligopoly can adopt a competitive strategy.
  • The extra profits earned from an oligopoly can go into research and development.
  • It can bring price stability to the market.
  • Oligopolies can offer more information to their consumers.

Learn more about oligopoly here:

https://brainly.com/question/26456058

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