Problem1 explain why an oligopolist with few competitors, Ask an Expert

Economics

Problem

1. Explain why an oligopolist (with few competitors) pays more attention to what its competitors are doing than a producer in a competitive market (with many competitors) does.

2. If a market has few barriers to entry and many firms, how might firms still have positive economic profit? Describe a strategy a firm in this type of market might use to maintain economic profits.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92757916

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