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E. H. Chamberlin criticized the Cournot, Bertrand, and Stackelberg duopoly models for the naivete of their underlying assumptions. To what, specifically, was Chamberlin referring? Product

E. H. Chamberlin criticized the Cournot, Bertrand, and Stackelberg duopoly models for the naivete of their underlying assumptions. To what, specifically, was Chamberlin referring?

Product differentiation is an essential characteristic of oligopolistic market structures. Do you agree? Explain.

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