3.3.4 - Oligopoly
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Practice Questions
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What does oligopoly mean?
💡 Hint: Think of market control.
Give an example of an oligopoly.
💡 Hint: Look for industries with few competitors.
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Interactive Quizzes
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What characterizes an oligopoly?
💡 Hint: Consider how many players control the market.
Oligopoly markets generally experience price rigidity.
💡 Hint: Think of how firms respond to each other's pricing.
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Challenge Problems
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In the context of oligopoly, explain how firms can maintain high profits while avoiding price wars.
💡 Hint: Think about competition not solely based on price.
Discuss how government regulations can influence oligopolistic markets.
💡 Hint: Consider the role of policies that help or hinder competition.
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