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If there is a shift of market power from manufacturers to retailers or from retailers to manufacturers, how are consumers affected? When the value chain has successive firms that each have market power, the shifting balance of power up or down the chain (away from the consumer or towards the...
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explicitly accounts for monopoly power in manipulating quality choices. The example provided illustrates the potential for …
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A fundamental result in the theory of commodity taxation is that taxes increase consumer prices and reduce supply …
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