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Microeconomics , Fifth Edition
William Boyes, Arizona State University
Michael Melvin, Arizona State University
Chapter Review
Chapter 12: Monopolistic Competition and Oligopoly


1. What is monopolistic competition?

2. What behavior is most common in monopolistic competition?

3. What is oligopoly?

4. In what form does rivalry occur in an oligopoly?

5. Why does cooperation among rivals occur most often in oligopolies?



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