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What Is an Oligopoly? Discuss the Impact of Interdependence in an Oligopoly

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What is an oligopoly? Discuss the impact of interdependence in an oligopoly.


Definitions:

Perception

The process by which individuals organize and interpret sensory information to give meaning to their environment.

Relationships

Connections or associations between people, whether emotional, biological, social, or professional.

Social Cognition

The study of how people process, store, and apply information about other people and social situations.

Social Influences

The effects that the words, actions, or mere presence of other people have on an individual's thoughts, feelings, attitudes, or behavior.

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