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Why is an oligopolist more likely to be able to earn profit

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Reference no: EM131288708

Discussion Questions

a) Why is an oligopolist more likely to be able to earn a profit in the long run compared to a monopolistic competitive firm?

b) If all the firms in a monopolistically competitive industry were merged into one large firm, would that new firm produce as many different brands or would it produce only a single brand? Explain your reasoning.

Reference no: EM131288708

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