If the several oligopolistic firms that comprise an industry behave collusively,the resulting price and output will most likely resemble those of:

Question

Quizplus · Accepted Answer

When oligopolistic firms collude, they act as a single entity and reduce output to increase prices. This behavior resembles the behavior of a monopolist who has complete control over the production and sale of a product. Therefore, the resulting price and output of collusive oligopolies are similar to those of a pure monopoly.

If the Several Oligopolistic Firms That Comprise an Industry Behave