The availability of substitute products outside the industry will limit the ability of oligopolistic firms to earn high profits.

Name: The availability of substitute products outside the industry will limit the ability of oligopolistic firms to earn high profits.
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Question

Quizplus · Accepted Answer

Substitute products outside the industry provide consumers with alternative options, increasing competition and limiting the pricing power of oligopolistic firms, thereby constraining their ability to earn high profits.

The Availability of Substitute Products Outside the Industry Will Limit