Nash Equilibrium Equilibrium in oligopoly markets means that each firm will want to do the best it can given what its competitors are doing, and these competitors will do the best they can given what that firm is doing.
A business will have determined its optimum strategy, taking into account the tactics selected by other firms in the market, when an oligopoly market approaches a Nash equilibrium. More than in monopoly markets and less than in markets with perfect competition. There are just a few vendors, which is the core of an oligopolistic market. When each player choose the optimal strategy for himself, given the other strategies selected by the other players in the group, a Nash equilibrium is attained. The term "a" refers to a situation where each business selects the optimum plan based on the strategies selected by the other firms. The Nash equilibrium.
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