Essay
The market for widgets is divided as follows: Wally's Widgets has 45 percent of the market; Willy's Widgets has 22 percent of the market; Woody's Widgets has 10 percent of the market; and Wanda's Widgets has 8 percent of the market. The other 542 firms in the widget industry have the remaining 15percent of the market. How would you describe the widget market?
Correct Answer:
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It's an unbalanced oligopoly b...View Answer
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Correct Answer:
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