Galbraith argues that oligopoly firms can be efficient because of the research they engage in and the technological change they foster.

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Galbraith's argument is that oligopoly firms have the resources to invest in research and development, which can lead to technological advancements and greater efficiency in production. Therefore, he believes that oligopolies can be efficient despite their ability to limit competition.

Galbraith Argues That Oligopoly Firms Can Be Efficient Because of the Research