In an Oligopoly with a Collusive Agreement, the Total Industry

question 78

Multiple Choice

In an oligopoly with a collusive agreement, the total industry profits will be smallest when

• A) the firms act as a monopoly.
• B) all firms comply with the agreement.
• C) one firm cheats on the agreement and the other firms do not cheat.
• D) all firms cheat on the agreement.

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