The second characteristics is about a lack of price competition in the market, the theater does not want to increase their prices in case the theater competition if they increase prices because they might lose market share. The other theaters do not want to reduce their prices, in case the other theaters do the same and a price war results which reduces prices but leaves market share unchanged and so everyone is left worse off.And the last characteristics is “non-price competition” oligopoly firms frequently advertise on a large scale so the lack of price competition means that different forms of non-price competition take place by the theatre branding or advertising to bring the theatre more customers.
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