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Explain and discuss how players in oligopolistic market compete with each other. In your answer cover the followings: a) Explain what happens to the supply
Explain and discuss how players in oligopolistic market compete with each other. In your answer cover the followings:
a) Explain what happens to the supply and price in an oligopolistic market with Cournot competition when players cannot correctly predict each other's supply decisions. Use appropriate graph to support your answer.
b) Explain and discuss simultaneous price competition with differentiated products. ) Use appropriate graphs to support your answer.
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