On the graph, if the oligopolist's MC curve shifts from MC ₁ to MC ₂, the firm will charge
A) a higher price than before and total revenue will increase.
B) the same price as before and sell more output; total revenue will increase.
C) the same price as before and sell the same amount of output; total revenue will remain the same.
D) a higher price than before and sell less output; it can't be determined whether total revenue will change.
Correct Answer:
Verified
Q228: Obstacles to collusion among oligopolists include the
Q229: The incentive to cheat within a cartel
Q230: Collusion among oligopolistic firms
A)is common in world
Q231: The Organization of Petroleum Exporting Countries (OPEC)is
Q232: Which statement concerning the kinked demand curve
Q234: If oligopolistic firms facing similar cost and
Q235: Informal collusion to restrict output and increase
Q236: A cartel is
A)a form of covert collusion.
B)legal
Q237: One shortcoming of the kinked demand curve
Q238: Which of the following is not true
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