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10 cards from this deck
Market with few large firms controlling supply of product/service
Oligopoly where only two companies dominate an industry
Each firm's decisions directly affect its competitors
Advertising, service quality, brand loyalty, product features
Large capital needs, brand loyalty, competing with established firms
Kinked demand curve explaining price stability in oligopolies
High prices, very elastic demand (sensitive to price increases)
Neither raising nor lowering prices improves revenue (kinked curve)
Rival firms cooperate to maximise combined profits
Group of producers acting as collective monopoly to fix prices
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