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Baumol and Blinder argue that oligopolies are interdependent firms.What do they mean by this?
Give three examples of the types of interdependence which might occur.
Psychological Barriers
Mental or emotional obstacles that hinder communication or the progress of an individual.
Listening
The active process of receiving and understanding messages communicated by others through sounds or gestures.
Communication Technology
Tools and systems used for the transmission, reception, and processing of data and information, enabling faster and more efficient communication.
Workforce
The group of employed individuals or the labor pool in any given organization or economic sector.
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