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Unformatted text preview: product differentiation A market dominated by a few large firms. Oliogophy A measurement of the percentage of an industry's total sales that is controlled by the largest few firms. Concentration ratio A situation where each rival chooses the best actions given the (anticipated) actions of the other(s) Nash equilibrium An association of sellers acting in unison Cartel A market structure in which producers are identifiable and have some control over price. Imperfect competition 18:06 18:06...
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- Spring '10