Oligopolists have a mutual interest in coordinating production decisions in order to maximize joint
A)Costs.
B)Profits.
C)Revenues.
D)Market share.

Question

Quizplus · Accepted Answer

Oligopolists have a mutual interest in coordinating production decisions in order to maximize joint profits. By working together to limit supply and keep prices high, each firm can earn higher profits than they would in a competitive market. However, this coordination can be difficult to achieve and maintain, as each firm may have an incentive to cheat and produce more than agreed upon.

Oligopolists Have a Mutual Interest in Coordinating Production Decisions in Order