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Briefly Explain Milton Friedman's View of Social Responsibility

question 36

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Briefly explain Milton Friedman's view of social responsibility.

Understand the prisoner’s dilemma and how it relates to the challenges of cooperation and competition in oligopolies.
Understand different market structures, including monopoly, oligopoly, monopolistic competition, and pure competition.
Identify traits and outcomes of collusive and non-collusive oligopolies.
Explain the concept of game theory and its applications in oligopolistic markets.

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