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The South American cocaine industry consists of several families who obtain the raw material, refine it, and distribute it to the U.S. There are only
The South American cocaine industry consists of several "families" who obtain the raw material, refine it, and distribute it to the U.S. There are only about 3 large "families", but there are several small "families". What market structure does this most closely resemble? Explain completely and thoroughly. What predictions based on the market model can be made about the cocaine business? How do you explain the lack of wars between the families?
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