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Chapter 15 Worksheet Date______________________

Your Name _____________________________ Your Section ______________________

Write paragraphs to answer these questions in detail. This will help you to understand oligopolies and will serve as a study sheet for you.

1. List and describe the three different types of oligopolies. How are they different? How are they alike?

2. How do cartels set their prices?

3. How do oligopolies that engage in implicit collusion set their prices?

4. How do non-colluding oligopolies set their prices?