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What Effect Does the Number of Firms in an Oligopoly

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What effect does the number of firms in an oligopoly have on the characteristics of the market?


Definitions:

Evaluation Apprehension

Anxiety or fear about being judged, evaluated, or perceived negatively by others.

Group Behavior

The behaviors and norms that are exhibited by individuals when they are in groups, influenced by the presence and actions of others.

Cognitive Appraisal

The process of evaluating a situation in relation to one's personal well-being, influencing one's emotional and psychological response.

Social-Cognitive Theorists

Researchers who explore how people learn through observing others, focusing on the processes of attention, memory, and motivation.

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