In an oligopolistic market each firm?

In an oligopolistic market, each firm is aware of the actions and strategies of its competitors, leading to interdependent decision-making. Firms typically produce similar or differentiated products, and their pricing and output decisions can significantly impact the market as a whole. Because of this interdependence, firms may engage in strategic behaviors such as collusion or price wars to gain a competitive advantage. Overall, the market dynamics are characterized by a balance between cooperation and competition among the few dominant firms.