When a third firm enters a market that was previously categorized as a duopoly, the equilibrium price:
A) will be lower and the equilibrium quantity will be lower.
B) will be higher and the equilibrium quantity will be lower.
C) will be lower and the equilibrium quantity will be higher.
D) will be higher and the equilibrium quantity will be higher.
E) and the equilibrium quantity will not change.
Correct Answer:
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