If a Firm in an Oligopoly Expands Its Market Share

question 134

Multiple Choice

If a firm in an oligopoly expands its market share at prevailing prices,its competitors

• A)Lose market share.
• B)Increase their market share.
• C)Ignore the expansion.
• D)Increase their profits.

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Definitions:

Venn Diagram

A graphical representation used to show all possible logical relations between a finite collection of different sets.

Proposition

A pronouncement or avowal that reveals a conviction or evaluation, with the possibility of being right or wrong.

S are P

A logical structure indicating a relationship where "S" represents the subject and "P" the predicate, asserting that the subject belongs to the predicate category.

Venn Diagram

A diagrammatic representation used in set theory and logic to depict the relationships between sets through overlapping circles or shapes.