1.

What is the role of non price strategies like advertisements in oligopoly? why are they important?

Answer»

ANSWER:

ADVERTISEMENTS: Firms in OLIGOPOLISTIC industries rely heavily on non-PRICE weapons such as advertising and variation in product CHARACTERISTICS as MARKETING strategies. They view price-cutting as a dangerous tactic because it can initiate a price war that may have disastrous consequences in the long run.

Explanation:

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