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64
Economic theory suggests that monopoly will increase price and decrease quantity. However, from 1864 to 1914, real prices were falling and output was increasing in manufactured goods, transportation, and financial services. Why is that?
Explain:
4) Most markets were closer to oligopolies
Explain:
4) Most markets were closer to oligopolies
firms usually had limited competition, which was close to a competitive market
Karteninfo:
Autor: savhighsmith
Oberthema: Economics
Thema: History of Economics
Schule / Uni: UGA
Ort: Athens
Veröffentlicht: 12.10.2010