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Business, 04.12.2019 03:31 fancycar14

The gizmo industry has the following characteristics: over 600 producers with no one producer furnishing more than .5% of the industry’s total output; gizmos produced by different firms carry unique brand names and labels; there are no significant barriers to entry to the gizmo market; there is no economic profit in the long run. the gizmo market is best described as what type of market? perfect competition monopolistic competition differentiated oligopoly undifferentiated oligopoly pure monopoly

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