Under oligopoly, a few large firms control most of the production and sale of a product because

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a. economies of scale make it difficult for small firms to compete.

b. diseconomies of scale make it difficult for small firms to compete.

c. average total costs rise as production expands.

d. marginal costs rise as production expands.

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Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

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Question Posted: May 19, 2024 08:02 AM

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Under oligopoly, a few large firms control most of the production and sale of a product because

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Exploring Microeconomics

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