In oligopoly, you said that firms with more differentiated products tend to have more elastic demand than firms with less differentiated firms. Then later on you said that automobile industries have inelastic demand of their products and there is a greater variance in the price of the product. I'm confused. isn't the graph wrong?
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Thank you.
where does monopsony and contestable markets fall in the line?
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thank you so much
In oligopoly, you said that firms with more differentiated products tend to have more elastic demand than firms with less differentiated firms. Then later on you said that automobile industries have inelastic demand of their products and there is a greater variance in the price of the product. I'm confused. isn't the graph wrong?
I think it was just a mistake in speech
It should be the other way around more differentiated is inelastic, and less differentiated is elastic
Thank you
Fiñtu saana 🥱
This is why we don't study 🥱😅
😂😂
Thanks you