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Define the Oligopolistic competitor Describe and/or analyze graphically the firm’s profit-maximizing,Break-even and shut-down conditions Describe the...

  1. Define the Oligopolistic competitor
  2. Describe and/or analyze graphically the firm’s profit-maximizing,Break-even and shut-down conditions
  3. Describe the short and long run market conditions
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Answer #1

Oligopolistic competitor exists where there are only few sellers and sellers might range from 2 to 10. Each sellers have sizeable share of market. There is intense competition in oligopolistic market. Such market can be cooperative or non-cooperative.

Short run and break even, profit maximizing and shut down condition:

Long run shutdown point and Breakeven point:

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