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Firms in an oligopoly
i.are independent of each other's actions.
ii.can each influence the market price.
iii.charge a price equal to marginal revenue.
Erich Fromm
A German social psychologist, psychoanalyst, sociologist, and humanistic philosopher known for his theories on the tethers of freedom.
Escape From Freedom
A concept referring to the evasion of personal responsibility that leads individuals to seek refuge in authoritarian systems.
Determinism
Determinism is the philosophical theory that all events, including moral choices, are completely determined by previously existing causes.
Freedom Of Choice
The power or right to make one's own decisions without coercion or constraint.
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