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1. What distinguishes oligopoly from monopolistic competition? 2. Is an oligopolist more or less likely to engage in strategic decision making compared to a monopolistic competitor? 3. What is the...

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1. What distinguishes oligopoly from monopolistic competition?

2. Is an oligopolist more or less likely to engage in strategic decision making compared to a monopolistic competitor?

3. What is the difference between the contestable market model and the cartel model of oligopoly?

 

Answered Same Day Dec 25, 2021

Solution

David answered on Dec 25 2021
108 Votes
What distinguishes oligopoly from the monopolistic competition?
Answer

The oligopolistic market have firms which undertake interdependent pricing and quantity decision based on the strategy of
gain for all while the market with monopolistic competition have firms acting individually without considering the other
firms that...
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