Question

Oligopolies compete on a non-price basis by

Answer 1

Oligopolies compete on a non-price basis by colluding with their competition. Hence, Option A is correct.

What is oligopoly?

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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