Concepts such as demand-supply and elasticity

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The Discussion Board Forum should be considered as weekly short essay. In order to receive full credit, answer every question according to the instructions provided on DB rubric. You need to read the textbook and understand the concepts before you answer the questions. It is mandatory that you use proper economic language or concepts such as “demand”, “supply”, “elasticity”, etc. on you posting. Additional research is required and strongly encouraged. Make sure to cite the source of your research using APA format and list it at the end of your posting. Using graphs and charts is strongly encouraged. The article The Oligopoly Problem argued that oligopolies fall through the cracks of these regulations and leave consumers unprotected from harmful business practices where industries are highly concentrated. Read the article and respond to the following in your initial post: •What are examples of firms in an oligopolistic market that abuse their power? Explain how they abuse their power and describe the impact on consumers. •Do you agree with the author’s feelings about increased government oversight of such industries? Why or why not?

Reference no: EM131094583

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