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What is Oligopoly?
Oligopoly is a general market structure. This arises from similar forces that lead to monopoly, except within weaker form. This is an industry along with only a tiny number of producers. A producer into this industry is termed as an oligopolist.
While no one firm has a monopoly, although producers however realize that they can influence market prices, an industry is described by imperfect competition.
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case.
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