In the Long Run, Even If New Fringe Firms Enter

question 17

True/False

In the long run, even if new fringe firms enter the oligopoly market, the dominant firm's profit will remain unaltered.

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Definitions:

Deductive Approach

A reasoning process that moves from a general premise to a specific conclusion.

Antagonizing

Actively causing someone to become hostile or creating an adversary unnecessarily.

Perception Of Reality

How individuals interpret the world around them, which can differ significantly from person to person based on experiences and beliefs.

Previous Experiences

The events or activities that an individual has encountered or participated in before the present time, often influencing current behavior or decisions.