What Effect Does the Number of Firms in an Oligopoly

question 27

Essay

What effect does the number of firms in an oligopoly have on the characteristics of the market?

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Definitions:

Pathology

The study of diseases and the structural and functional changes they cause.

Biological Perspective

The biological perspective in psychology focuses on understanding human behavior through the lens of genetics, brain structures, and biochemical processes.

Behaviour

The actions or reactions of an individual in response to external or internal stimuli.

Interrelations

The ways in which two or more things or phenomena are connected and affect each other.