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In a Duopoly, If One Firm Increases Its Price, Then

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In a duopoly, if one firm increases its price, then the other firm can


Definitions:

Production Technique

The method or process used by a company or industry to create goods or services, often involving specific technologies or procedures.

Price Of Labor

The wages or salary that workers receive in exchange for their labor or services in the job market.

Widgets

A general term commonly used to describe any theoretical produced item or merchandise.

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