SAPLINGPLUS ACCESS MICRO 1 TERM
4th Edition
ISBN: 9781319319038
Author: KRUGMAN
Publisher: MAC LTD
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Chapter 16, Problem 2QFT
To determine
Assume a context that there are two competing social media websites. Explain why it is likely that one will come to dominate. Explain why the decline of a site is likely to be swift, with a cascade of departures.
Concept Introduction:
Oligopoly Market:
An oligopoly market structure is a market where few firms sell similar but differentiated product. The special feature is that only few firms hold the major market share. Oligopoly market is highly concentrated. They dominate the pricing strategy. They are the market leaders. Others are the followers.
Duopoly Market:
A form oligopoly market which consists only two firms.
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