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In the Graph Above the Dd Curve Is Based on the Assumption

Question 49

Multiple Choice

In the graph above the dd curve is based on the assumption


A) That firms all follow each other when any one of them changes price
B) That market demand is more elastic than the demand for any one firm
C) That firms can gain market share by lowering their price below the price of the competition
D) That firms will follow any price increases of their competitors

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