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Explain how oligopolies can work both for and against consumers.
Oligopolies market power can of course work against consumers - as price-setting and any form of collusion will lower consumer welfare. Yet it is also the fact that a lot of oligopolies in fact have to act in accordance with market demand basics and are therefore to a certain extent competitive.
Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you ex
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what is price elasticity of demand ? write briefly with explaining it''s type.
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