Oligopolies compete on a non-price basis by colluding with their competition. Hence, Option A is correct.
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What is oligopoly?</h3>
A competition with a limited state, in which a small number of producers and sellers share a market. It is an industry which is dominated by sellers or producers, in a desire to maximise their profit. Such a structure leads to collusion between companies.
The major reason behind its existence is collaboration. For more economic profit, companies collaborate on a specific price, and after that, they also compete with their competitors.
Therefore, oligopolies compete on a non-price basis by colluding with their competition. Hence, Option A is correct.
Learn more about oligopoly form here:
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