What are the sources of oligopoly? (5 Marks)f) Why are monopoly firms inefficient?
Question
Solution 1
- Sources of Oligopoly:
a) Economies of Scale: Large firms can produce goods and services at a lower cost than smaller ones. This makes it difficult for new entrants to compete on price and can lead to a small number of firms dominating an industry.
b) High Entry Barriers: These can be due to hig Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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