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Firm Turnover in Imperfectly Competitive Markets

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Figure

Figure 1: The effect of a decrease in the distribution of firms (µ 0 ≺ µ) on the value of an entrant with exit policy x.
Figure 2: The effect of an increase of market size on gross profits: S 1 > S 0 , and hence µ 1 Â µ 0 .
Table 2: Tobit regressions. The number of firms related to market size and fixed costs.
Figure 4: Cumulative age distributions in markets with low and high rents.
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