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Oligopoly necessarily refers to a situation where the supply side of the market has exactly two firms. firms sell differentiated products. O firms sequentially decide

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Oligopoly necessarily refers to a situation where the supply side of the market has exactly two firms. firms sell differentiated products. O firms sequentially decide how much to produce in order to reach a Cournot equilibrium. firms make zero profit in equilibrium. None of the preceding statements necessarily characterizes oligopoly

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