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Assume oligopoly firms are profit maximizers, they do not form a cartel, and they take other firms' production levels as given. Then in equilibrium the output effect __________. A. must be smaller than the price effect B. must balance with the price effect C. must dominate the price effect D. can be larger or smaller than the price effect
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Assume oligopoly firms are profit maximizers, they do not form a cartel, and they take other firms' production levels as given. Then in equilibrium the output effect : must balance with the price effect.
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Asked 1/20/2013 5:21:44 PM
Updated 8/11/2015 10:53:22 AM
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Assume oligopoly firms are profit maximizers, they do not form a cartel, and they take other firms' production levels as given. Then in equilibrium the output effect : must balance with the price effect.
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