In some cases, firms in oligopoly may engage in price wars, where they lower prices to undercut their rivals. This can lead to a race to the bottom, with all the firms in the industry suffering reduced profits as a result.
In some cases, firms in oligopoly may engage in price wars, where they lower prices to undercut their rivals. This can lead to a race to the bottom, with all the firms in the industry suffering reduced profits as a result.