Adi

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Title: Adi

Essay Details:

Subject: Miscellaneous

Author: Debra W

Date: June 21, 2015

Level: University

Grade: A

Length: 3 / 679

Essay text:

a large percentage of the market is taken up by the leading firms). Firms within an oligopoly produce branded products (advertising and marketing is an important feature of competition within such markets) and there are also barriers to entry. The barriers may take on a number of forms, depending upon the nature of the industry; this allows firms to make abnormal profits in the long run. Interdependence between firms means that each firm must take into account the likely reactions of other firms in the market when making pricing and investment decisions. This creates uncertainty in such markets - which we seek to model through the use of game theory...

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