Identify and describe a real world example of an oligopoly

question 1

Evaluate the following statement using economic reasoning: “A monopolist  can charge whatever she wants because she is the only source  available.”

question 2

Identify and describe a real world example of an oligopoly. What  characteristics of this market fit the definition of an oligopoly? What  role does advertising play in this market? Is this consistent with what  you’ve learned about advertising and oligopoly in this course?

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