If a Duopoly Has Reached the Monopoly Outcome, a Firm

question 55

Multiple Choice

If a duopoly has reached the monopoly outcome, a firm can increase its profit if it and it alone ________ its price and ________ its production.

• A) lowers; decreases
• B) raises; increases
• C) raises; decreases
• D) raises; does not change
• E) lowers; increases

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Definitions:

Distress

Extreme anxiety, sorrow, or pain, often affecting a person’s mental or physical health.

Abnormal

Deviating from what is considered normal or typical, often in reference to behavior or physical conditions.

Danger To Self

A situation or state in which an individual poses a significant risk of harm to their own health, life, or well-being.

Abnormal Functioning

Patterns of behaviors, thoughts, or emotions considered to deviate significantly from societal norms or expectations, often causing distress or disability.