The Maximum Economic Profit That Can Be Made by a Duopoly

question 47

Multiple Choice

The maximum economic profit that can be made by a duopoly that colludes is equal to the

• A) economic profit made by duopolists who cheat.
• B) normal profit made by an oligopoly.
• C) economic profit made by a monopoly.
• D) normal profit made by firms in perfect competition.

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Definitions:

COPD

Chronic Obstructive Pulmonary Disease, a group of lung conditions that cause breathing difficulties.

ERV

Expired Reserve Volume; the additional amount of air that can be forcibly exhaled after the completion of a normal, quiet expiration.

AFB

Acid-fast bacillus, a type of bacteria that is resistant to decolorization by acids during staining procedures; commonly used to refer to tuberculosis-causing bacteria.

MDR TB

Multi-Drug Resistant Tuberculosis, a form of TB that is resistant to at least isoniazid and rifampicin, the two most powerful tuberculosis drugs.