Fair Price and Best Price

jonie59

Hai to all,
This is jonie from india an MBA student.
Of late i presented paper on this but i encountered some of the questions that is fired by delegates for which i dont have any answer. could anybody help me if you know.

What is fair price : In oligopoly market all the suppliers saying the same price ( with slender price difference) how would one know how the price has been fixed.without knowing this it would be futile for further entering into bargaining.

BEST PRICE: Beyond quotation which includes ( Delivery period,point,quality, time,service) is there anything to judge the best price.

Please help me dude, i am dying for answers.

bye

fruitcake_2

Oligopoly is a market situation where a few firms dominate the industry and produce either a homogenous product or differentiated product. When in an oligopoly a produce a homogenous product, it is called a perfect oligopoly. And when in an oligopoly a few firms produce a differentiated product it is called an imperfect oligopoly. In case of oligopolistic industries barriers to enter the market are quite high, which take the form of huge investment, advanced technologies, and patent rights conferred by the Government and the similar bodies. These barriers make it difficult or almost impossible for the new firms to enter the market.............if you are looking for coursework material you may find this site useful.........
http://www.coursework4you.co.uk/sprtecon16.htm