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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What stops oligopolists from acting together as a monopolist and earning the highest possible level of profits?

To determine

The reasons that stops oligopolists from acting together as a monopolist and earning the highest possible level of profits.

Explanation

As we an oligolpoly is :

Oligopoly : is a form of market which is dominated by a small number of large sellers. Oligopolies can result in reduced competition and may lead to higher prices for the consumers.

And a monopolistic competition is:

Monopolistic Competition: is a kind of imperfect competition where there are large number of producers, each sell differentiated products and there is freedom of entry and exit in the long run...

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