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johnnyappleseed johnnyappleseed
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7 months ago

Interdependence implies that each firm in an industry



▸

is independent of one another and are essentially price takers.



▸

is aware that its actions influence the others and that the actions of the other firms affect it.



▸

is so large and powerful that they do not need to consider how their actions will affect their rivals.



▸

must depend on the other firms to maintain consumers' interest in their "mutual" product.

Textbook 
Economics

Economics


Edition: 12th
Author:
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bolusmachinebolusmachine
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7 months ago
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johnnyappleseed Author
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7 months ago
You make an excellent tutor!
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Thank you, thank you, thank you!
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