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In markets characterized by oligopoly
A. expectations on how rivals will respond are important considerations when a firm decides to change the price it charges its customers
B. no firm controls more than a 10% share of the market
C. products or services may be branded or unbranded
D. both a and c
.if individuals are free to produce whatever goods they want, then when excess profit is being made, more people will enter into the production of that good and consumers will benefit as the price is pushed down.
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Explain the output and price effects which affect the profit-maximizing decision faced by the firm in oligopoly market. How does this differ from output and price effects in monopoly market?
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