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3. What is oligopoly? What are the characteristics of firms in oligopoly? 4. What is price discrimination? What are the requirements (initial conditions/rules) for a

3. What is oligopoly? What are the characteristics of firms in oligopoly? 4. What is price discrimination? What are the requirements (initial conditions/rules) for a firm (in what market?) to price discriminate? How does the monopolist discriminate prices? 5. What is the optimal sales effort, i.e. advertising

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