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How might a firm in an oligopolistic market attempt to increase market share?
Explanation of oligopoly; concentration ratio, producer sovereignty
Explanation that oligopolies are often non-price competitive and resulting price rigidity
Use of kinked demand curve to illustrate price rigidity
Explanation of how/why oligopoly firms are interdependent and therefore have an incentive to avoid head-on competition by
a) Collusion
b) Merging
Since oligopoly firms wish to avoid harmful price competition, great effort often goes into R&D, product enhancement, marketing drives, product differentiation
different types of production funtion and curve given by different economist
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choose a topic from microeconomics that matters to you and find a recent news article covering that topic?
explain normal profits
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plot the demand schedule and draw the demand curve for the data given for marijuana in the case above
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