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hiusy98 hiusy98
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7 years ago
Suppose an oligopoly consists of two firms. Firm A lowers price and Firm B responds by lowering its price by the same amount. If average costs and industry output remain the same, which of the following will occur?
A) The profits of the two firms will increase.
B) The profits of the two firms will decrease.
C) The profits of the two firms will remain the same.
D) Barriers to entry will come tumbling down and new firms will enter.
Textbook 
Economics for Managers

Economics for Managers


Edition: 3rd
Author:
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andyborziandyborzi
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7 years ago
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hiusy98 Author
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7 years ago
Project is complete now, thank you for your expertise!
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