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If a monopolist raises its price, some consumers will choose not to purchase ... .. effectively act like a monopoly and succeed in pushing up prices and earning consistently high levels of profit. ... The problem of enforcement is finding hard evidence of collusion. ... .. competitor has direct competition, unlike the puremonopolist. |
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An oligopoly is a market dominated by a few producers, each of which has ... However, oligopoly is best defined by the conduct (or... ... Non-CollusiveOligopoly. |
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Some firms in pure competition attempt to move into the monopolistic ... Some firms will differentiate their products to service different markets. ... Oligopolies have a few large firms and may produce either a standardized product, such as ... firms in the industry, firms often have an incentive to collude and act like a monopoly. |
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Firms in an oligopoly can increase their profits through collusion, but ... Describe how colluding oligopolists can act as a monopoly ... self-interest would produce a greater quantity than a monopolist, and charge a lower price. ... As a result, price will be higher than the market-clearing price, and output is likely to be lower. |
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The conditions that give rise to an oligopolistic market are also. ... By working together, the cartel members are able to behave like a monopolist. ... Note that a cartel, like a monopolist, will choose to produce less output and charge a higher ... |