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1)What are the characteristics of an oligopoly market? 2)Suppose the market for Apple Watches is currently in equilibrium

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1)What are the characteristics of an oligopoly market?

2)Suppose the market for Apple Watches is currently in equilibrium. Then, workers at Apple's factories go on strike and demand a wage increase. This raises the cost of producing each Apple Watch. What happens to price and quantity for Apple Watches in the new equilibrium? Draw a graph with the initial equilibrium price and quantity and the new equilibrium price and quantity.