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Why does markets sometimes fail to allocate resources efficiently, government policies can potentially improve the market's allocation, and what kinds of policies are likely to work best.
Business Economics, Economics
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What is asymmetric information and how does it affect the consumer or buyer?
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A cartel is branch of an oligopoly. There are still a handful of large firms and many smaller firms. For instance, the diamond industry and the petroleum industries are examples are oligopolies. However, the main differe ...
Consider the following Cournot oligopoly: There are two identical firms in the industry, which set their quantities produced simultaneously. The two firms face a market demand curve, Q = 120 - P, in which Q = q1 + q2. Ea ...
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