Multiple Choice
In a duopoly, if one firm increases its price, then the other firm can
A) lose $75 million in profit and firm A will gain $50 million in profit.
B) gain $50 million in profit and firm A will lose $50 million in profit.
C) gain $75 million in profit and firm A will lose $50 million in profit.
D) gain $50 million in profit and firm A will lose $75 million in profit.
Correct Answer:
Verified
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