17 Nov 2021
Problem 21
Page 252
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 few firms participate for most or all total production. In this market these few firms earn substantial profit in the long run because barrier to entry make it very difficult to enter new firms in the market.
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