Monopolistic Competition and Oligopoly. Chapter 17 and THEN Chapter 16. Think about it…. Think about the market for books…what characteristics does this market have that fit with perfect competition? What about monopoly?
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Chapter 17 and THEN Chapter 16
D1-Other Firms Match
Q1Graph of a Kinked Demand Curve
7. Greater profits might encourage more firms to enter
8. Cheating is profitable for each individual firm (i.e., prisoner’s dilemma)