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fashunluvr24 fashunluvr24
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A year ago
Consider the following characteristics of a particular industry:
- the four-firm concentration ratio is 78% (in the relevant market)
- each firm produces output where P > MC
- the products are highly differentiated
This industry is likely to be

▸ a cartel.

▸ one where each firm has limited market power.

▸ perfectly competitive.

▸ an oligopoly.

▸ monopolistic.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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crusherpsgcrusherpsg
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#1
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A year ago
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fashunluvr24 Author
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A year ago
Thanks
joyceess
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Yesterday
Smart ... Thanks!
jbarnett14
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2 hours ago
this is exactly what I needed
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