FIGURE 11- 2

FIGURE 11- 2
-If joint profits are to be maximized in an oligopolistic industry with a homogeneous product,the firms

A) must form a cartel in order to be legal.
B) need to determine the share of output each firm will produce.
C) can produce whatever output they want at the agreed- upon price.
D) have no individual incentive to cheat on the agreement.
E) None of the above - differentiated products are required for joint- profit maximization in oligopoly.