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In a/an__________________ market of television, the brand 'R.G.' was leading the market share. Its nearest competitor 'Digi' suddenly changed the strategy by bringing in a new model of mobile phone at a relatively lesser price. In: response 'R.G.' too slashed its price.
Option (3) is correct.
Explanation: In oligopoly, there are only few firms. If they compete on the basis of price, there is likely to be price war and the firm may loose. So, the firm adopts measures other than price for competing like customer care, after sale service, free gifts, etc. This is non-price competition.
By: Parvesh Mehta ProfileResourcesReport error
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