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9. Consider an oligopolistic market for breakfast cereals. If there are four brands currently being sold in this market, how
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If it is an oligopolistic market then there would be brand loyalty as well as barriers of entry where are new brands trying to compete and enter the market then the oligopoly companies which have high market power and capital as well might get to reduce the prices in such a way that it would lead other company out of the market where the oligopoly companies have high capital and they actually have the ability to suffer the losses and in this way and apart from that, the label of advertisements and promotions can be done by the oligopoly companies in a large extent which can make the entrant unable to gain a bit of market share all in all.

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