Compute price-output if firm-oligopolstic industry collude

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Reference no: EM1357354

Q1) If firms in an oligopolstic industry successfully collude and form a cartel, what price and output will result?

a. a price lower than the competitive price and because there are only a few firms in the industry, less output than the competitive amount

b. the competitive price and output

c. a price higher than the monopoly price and, because there is more than one firm in the industry, more output than the monopoly amount

d. the monopolistically competitve price and output

e. the monopoly price and output.

Reference no: EM1357354

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