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monopoly

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Q: What type of market structure would x-inefficiency most likely exist?
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A competitive market is defined as a marketplace where there are a lot of producers of similar products. The more choice there is for products the more likely that price competition will exist and keep prices in check


What is bilateral oligopoly?

Bilateral Oligopoly is a market structure in which a few sellers and a few buyers exist and both demand and supply sides have market power. There is no absolute equilibrium defined for such structure. the example is the intermediate goods market that is a few suppliers compete each other to sell and a few buyers compete to buy. collusion may happen on both sides.


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