“In a hypothetical market of mobile phones, the brand AWAAZ was lead

1.	“In a hypothetical market of mobile phones, the brand AWAAZ was leading the market share. Its nearest competitor VAARTA suddenly changed its strategy by bringing in a new model of the mobile phone at a relatively lesser price. In response, AWAAZ too slashed its price.” Based on the above information, identify the form of market represented and discuss any one feature of the market. Or Discuss the primary reason for ‘indeterminateness of demand curve’ under the oligopoly form of market.
Answer» “In a hypothetical market of mobile phones, the brand AWAAZ was leading the market share. Its nearest competitor VAARTA suddenly changed its strategy by bringing in a new model of the mobile phone at a relatively lesser price. In response, AWAAZ too slashed its price.” Based on the above information, identify the form of market represented and discuss any one feature of the market. Or Discuss the primary reason for ‘indeterminateness of demand curve’ under the oligopoly form of market.

“In a hypothetical market of mobile phones, the brand AWAAZ was leading the market share. Its nearest competitor VAARTA suddenly changed its strategy by bringing in a new model of the mobile phone at a relatively lesser price. In response, AWAAZ too slashed its price.” Based on the above information, identify the form of market represented and discuss any one feature of the market. Or Discuss the primary reason for ‘indeterminateness of demand curve’ under the oligopoly form of market.

Answer»

“In a hypothetical market of mobile phones, the brand AWAAZ was leading the market share. Its nearest competitor VAARTA suddenly changed its strategy by bringing in a new model of the mobile phone at a relatively lesser price. In response, AWAAZ too slashed its price.”

Based on the above information, identify the form of market represented and discuss any one feature of the market.

Discuss the primary reason for ‘indeterminateness of demand curve’ under the oligopoly form of market.

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