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10 cards from this deck
Market structure dominated by few large firms
Combined market share of largest firms in industry
Must consider rivals' reactions but don't cooperate
Firms compete independently without forming agreements
Formal collusive agreement to fix prices at high level
Cartel acts together like a single monopoly
Explains price rigidity in oligopolistic markets
Rivals match price cuts but not price increases
One firm sets prices, other firms follow
Rival firms continuously lower prices to undercut each other
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