If four firms comprise the entire golf club industry, the market would be

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The fact that there are only four firms in the industry implies a high degree of interdependence among the firms. This means that the actions of one firm will likely have an impact on the other three, leading to strategic decision-making based on the behavior of competitors rather than simply focusing on individual profits. However, the market is not a monopoly or a duopoly as there are multiple firms present. It is also not fully competitive as only four firms are present.

If Four Firms Comprise the Entire Golf Club Industry, the Market