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Chapter 7 of SCIT1003, taught by Prof. Tsang, delves into the complexities of duopoly markets. It explores key concepts such as pricing strategies, competition implications, and market power dynamics between two dominant firms. The chapter examines real-world examples, game theory applications, and the impact of collusion and cooperation on market outcomes. By the end of this chapter, students will gain a comprehensive understanding of how duopolies operate and their significance in economic contexts.
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