Unit 2.11 · Market Failure: Market Power
Oligopoly
AO2AO3AO4HLDiagram required
Syllabus Requirement
Few large firms, high barriers, interdependence. Includes collusive and non-collusive behavior, price wars, collusion/cheating, and concentration ratios.
Assessment Objectives
AO2Application and Analysis
AO3Synthesis and Evaluation
AO4Use of Appropriate Skills
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