oligopolies Flashcards by Libby Ogundere

Q

oligopoly (collusion) pros

A

cartels can be dynamically efficient
-alloactive efficiency
-productively efficient
-E. O. S

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Q

oligoplies (collsuion) cons

A

allocatively inefficient
-productive inefficiency
-x- inefficiency
-diseconomies of scale

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Q

how does oligopoly collusion lead to dynamic efficiency

A

-SNP made in the LR due to resources being used together-> SNP reinvested into R&D -> leads to innovation leads to more better production proccess -> decreased unit average costs

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