Use the figure to answer the following question(s) .
Figure 11-12
-If the firms in this oligopolistic industry depicted in Figure 11-12 can collude effectively and restrict the entry of potential competitors, the price of their product will tend to be

Question

Use the figure to answer the following question(s) .
Figure 11-12

-If the firms in this oligopolistic industry depicted in Figure 11-12 can collude effectively and restrict the entry of potential competitors, the price of their product will tend to be

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The Answer of Use the figure to answer the following question(s). Figure 11-12 -If the firms in this oligopolistic industry depicted in Figure 11-12 can collude effectively and restrict the entry of potential competitors, the price of their product will tend to be A) greater than P₂. B) close to P₂. C) approximately equal to P₁. D) less than P₁.

Use the Figure to Answer the Following Question(s)