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3.1.4 Economics - Coggle Diagram
3.1.4 Economics
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Concentration ratios
The concentration ratio is calculated as the sum of the market share percentage held by the largest specified number of firms in an industry.
Oligopoly
An oligopoly is a market form wherein a market or industry is dominated by a small group of large sellers.
Duopoly
A duopoly is a situation where two companies together own all, or nearly all, of the market for a given product or service.
Allocatively efficiency
Allocative efficiency is reached when no one can be made better off without making someone else worse off.
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