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In an Oligopolistic Market, If Rival Sellers Act Independently, Each

Question 197

Multiple Choice

In an oligopolistic market, if rival sellers act independently, each will have a strong incentive to


A) reduce price in order to increase sales and gain a larger share of the total market.
B) increase price in order to get a larger share of the market and make larger profits.
C) restrict output and raise price in order to achieve higher profits.
D) maintain agreements to lower price and decrease product quality in order to earn higher profits.

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