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(a) Describe and discuss the Structure Conduct Performance framework
(b) The hypotheses of interest in the Structure Conduct Performance framework are as follows:
Hypothesis 1: The exercise of market power should increase as concentration increase
Hypothesis 2: The greater the barriers to entry, the greater the exercise of market power
Explain available empirical evidence on each of these hypotheses.
WHAT IS OPPOTUNITY COST?
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#question.define potential entry.
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