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Define: monopolistic competition, product differentiation, oligopoly, cartel theoryDescribe how 'product differentiation' benefits a monopolistic competitorDescribe the 'Kinked Demand Curve' theory.Discuss two reasons why cartels are
Define: monopolistic competition, product differentiation, oligopoly, cartel theoryDescribe how 'product differentiation' benefits a monopolistic competitorDescribe the 'Kinked Demand Curve' theory.Discuss two reasons why cartels are difficult to maintain.Provide 'real world' examples of monopoly, oligopoly, and cartelUsing the 'prisoners dilemma' example 13, what is the dominant strategy for both Bo and Luke?
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