Unit 3: Are Businesses Efficient? Product Markets and Efficiency

Lesson 11b: Oligopoly: Are Businesses Efficient?

Key Terms

 

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Key Terms:

oligopoly, homogeneous (standardized) oligopoly, differentiated oligopoly, mutual interdependence, interindustry competition, collusion, kinked demand, cartel, price leadership, merger, horizontal merger, vertical merger, conglomerate merger, game theory, strategic behavior, prisoner's dilemma, dominant strategy, Nash equilibrium, self enforcing agreement

 

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Lesson 11b