In an oligopolistic industry where the oligopolists collude, the price firms charge would be ________, and the quantity they produce would be ________, if the industry was a monopoly.
A) higher than; higher than
B) lower than; lower than
C) the same as; the same as
D) higher than; lower than

Question

Quizplus · Accepted Answer

When oligopolists collude, they effectively act as a monopoly, setting prices and output levels to maximize joint profits, thus prices and quantities would be the same as in a monopoly scenario.

In an Oligopolistic Industry Where the Oligopolists Collude, the Price