17 Nov 2021
Problem 20
Page 251
Section: CRITICAL THINKING QUESTIONS
Chapter 10: Monopolistic Competition and Oligopoly
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17 Nov 2021
Introduction
Oligopoly Market: The oligopoly market refers to the situation where only a few firms participate for most or all total production. In this market, these few firms earn a substantial profit in the long run because the barrier to entry makes it very difficult to enter new firms in the market.
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