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Oligopoly behavior

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Please answer the following questions based on the articles

1. Discuss how the theory of cartels and joint profit maximization presented in this chapter applies to the behavior OPEC? (page 269 on Attachment)

2. (A) Describe how the ice cream industry fits the oligopoly model
(B) How does the government influence oligopolistic behavior?
(C) Do Oligopolists always compete on the basis of price? (page 269-270 on Attachment)

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In this article we can see that two major competitors are beginning to dominate the market. This closely fits with a olipologistic model, where only a couple large companies compete for market share. Each firm is closely watching what the others do and is trying to gain an advantage.

We can see two ways that the FTC has influenced the market. ...

Solution Summary

Oligopolists and profit maximization

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Behaviour of firms in oligopoly markets

Critically discuss that there is no satisfying theory that explains the behaviour of firms in oligopoly markets.

Which theories should I include in the analysis? Which examples are relevant to these theories? Furthermore, may you include some journals that will enhance my understanding of the key points that you will include in the answer.

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