If a Market Is a Duopoly and Additional Firms Enter

question 297

Multiple Choice

If a market is a duopoly and additional firms enter and do not cooperate, then

• A)price and quantity fall.
• B)price and quantity rise.
• C)price falls and quantity rises.
• D)price rises and quantity falls.

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Definitions:

Chemical Properties

Characteristics of a substance that become evident during a chemical reaction, revealing the substance's composition.

Organic Compounds

Chemical compounds made primarily of carbon atoms, often containing hydrogen, oxygen, nitrogen, and other elements, that are found in living organisms.

Major Components

Fundamental parts or essential elements that make up a system or structure.

Waterlogged

A condition where the soil is so saturated with water that there is insufficient oxygen for plant roots to breathe, often leading to plant stress or death.