Why Do Increasing Returns to Scale in an Industry Make

question 33

Essay

Why do increasing returns to scale in an industry make it more likely that the industry will be oligopolistic rather than perfectly competitive?

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Definitions:

Autonomous

Having the ability or right to govern oneself or make decisions independently, without external control.

Michel Foucault

A French philosopher, historian of ideas, social theorist, and literary critic known for his influence on postmodernist and critical theory, especially concerning power, knowledge, and discourses.

Nietzsche

Friedrich Nietzsche was a German philosopher known for his writings on morality, religion, culture, and the philosophy of life, often emphasizing individual creativity and the critique of traditional values.

Power and Knowledge

A concept exploring the relationship between power structures and the creation, distribution, and consumption of knowledge, often asserting that knowledge is both a tool and result of power.