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The market for a certain machine part is served by a dominant firm with competitive fring. Because of the development of new,? More flexible machine tools, firms that previously specialized in the production of other machine parts acquire the capacity to produce any of a range of party, including that produced by the dominant firm. As a result, the # of supply substitutes for the dominant firm's product increases. How does this affect the dominant firm's power?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91236249

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