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Explain the Implications of the Following in an Oligopoly Market: Barriers to Entry of New Firms - CBSE (Arts) Class 12 - Economics

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Question

Explain the implications of the following in an oligopoly market: Barriers to entry of new firms

Solution

In an oligopoly market, there are barriers to the entry of new firms. The patents rights are largely created for these firms and hence entry is restricted to new firms. The existing firms need not face any problem of new firms and they are able to earn-extra normal profit.

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Solution Explain the Implications of the Following in an Oligopoly Market: Barriers to Entry of New Firms Concept: Main Market Forms.
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