30 Oct 2021
Problem 11
Page 250
Section: REVIEW QUESTIONS
Chapter 10: Monopolistic Competition and Oligopoly
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30 Oct 2021
Introduction
Oligopoly market refers to the situation in which few firms enjoy the whole market share. Alternatively, this is an industry that contains the small number of producers and each producer is known as oligopolist. Further, oligopoly market classified into pure oligopoly (oligopolist sell the homogeneous product) and differential oligopoly (products are similar but not identical).
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