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What is meant by an oligopoly being both interdependent and uncertain in their price strategies?

Interdependence the limited number of players, each firm's actions, especially regarding pricing, directly affect the others. For example, if one firm lowers its prices, it can significantly impact the market share of the other firms. This interdependence means that firms in an oligopoly must consider the potential re 

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Answered by: Krysia K
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What is PED and how do we calculate it?

Price Elasticity of Demand (PED) is a measure that evaluates how responsive the quantity demanded of a good is to a change in its price. It shows the sensitivity of consumers to price alterations. Formula for Calculation PED is calculated with the formula: PED = (% Change in Quantity Demanded) / (% Change in Price)  

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Answered by: Krysia K
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Can you explain how a change in consumers' expectations of future prices might shift the demand curve, and provide a real-world example?

Consumers' expectations of future prices can influence current demand. If consumers expect prices to rise in the future, they might buy more of the product now, shifting the current demand curve to the right. Conversely, if they expect prices to fall, they might buy less now, shifting the demand curve to the left. A r 

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Answered by: David Y
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