Assertion: oligopoly's price | /r/HasProperty | high
Facets:
Source sentences:
text: The prices also differentiate according to the quantity demanded by the buyer i.e. if the quantity demanded is high; then the low price is charged and vice versa.
text: So the customers don’t buy the product which price is high, and all customers move to purchase other company products where there is low price.
text: As we have seen, cooperation among oligopolists is undesirable from the standpoint of society as a whole, because it leads to production that is too low and prices that are too high.
text: If the price of the product is too high, competitors will enter eventually, undercut the existing firms’ prices, and lower industry profits.
text: If prices are high, consumers may also respond by reducing demand (purchasing more hybrid or fuel-efficient cars, turning to alternative sources of energy, living closer to work).
text: However, when prices are high, there is a temptation to undercut your rival and benefit from both high market prices and high output.