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Use the Figure to Answer the Following Question(s)

Question 61

Multiple Choice

Use the figure to answer the following question(s) .
Figure 11-12 Use the figure to answer the following question(s) . Figure 11-12 -Figure 11-12 indicates the industry cost and demand conditions for a product produced in an oligopolistic industry. The price of this product is most likely to be A) greater than P<sub>2</sub>. B) P<sub>2</sub>. C) P<sub>1</sub>. D) in the range between P<sub>1</sub> and P<sub>2</sub>.
-Figure 11-12 indicates the industry cost and demand conditions for a product produced in an oligopolistic industry. The price of this product is most likely to be


A) greater than P2.
B) P2.
C) P1.
D) in the range between P1 and P2.

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