If All of the Firms in an Oligopoly Successfully Collude

question 33

True/False

If all of the firms in an oligopoly successfully collude and form a cartel, then total profit for the cartel is equal to what it would be if the market were a monopoly.

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Definitions:

Country A

A placeholder name often used in hypothetical economic models or discussions to refer to an unspecified country.

Business Income

The profit or loss generated from a company's activities after deducting expenses.

Emigration

The act of leaving one's resident country or region with the intent to settle elsewhere.

Total Output

Total output is the overall quantity of goods or services produced by a company, sector, or economy within a certain period.