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Answer to Question #256051 in Economics of Enterprise for Nelly
Question #256051
Characteristics which are not of oligopoly?
Expert's answer
characteristics of oligopoly market are
- A Few Firms with Large Market Share.
- High Barriers to Entry.
- Interdependence.
- Each Firm Has Little Market Power In Its Own Right.
- Higher Prices than Perfect Competition.
- More Efficient.
therefore oligopoly are not price takers and do not practice price discrimination.
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