live let live is the philosophy of which market structure
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Answer:oligopoly
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Live and let live is the philosophy of oligopoly market structure.
- Oligopoly is a market structure with a small number of firms, none of which can prevent others from having a major influence.
- The concentration ratio tests the largest firm's market share. A monopoly is one company, two companies are duopoly, and two or more firms are known as oligopoly.
- The three most important features of oligopoly are: a market dominated by a small number of large businesses, firms offering only similar or distinct goods, and the industry has significant entry barriers.
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