Asked by
Donisha Williams
on Nov 05, 2024
Verified
Oligopolists have market power.
Market Power
The ability of a company or entity to influence the price or terms of products in the market to its advantage, often because of its size or market share.
- Recognize the concept of market power within oligopoly and its implications for firm behavior and market outcomes.
Verified Answer
LB
Learning Objectives
- Recognize the concept of market power within oligopoly and its implications for firm behavior and market outcomes.
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