Use the Figure to Answer the Following Question(s)

question 27

Multiple Choice

Use the figure to answer the following question(s) .
Figure 11-12

If the firms in this oligopolistic industry depicted in Figure 11-12 can collude effectively and restrict the entry of potential competitors, the price of their product will tend to be

• A) greater than P ₂.
• B) close to P ₂.
• C) approximately equal to P ₁.
• D) less than P ₁.

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The amount of income that is used to determine how much tax an individual or a business owes to the government.

Form 1040EZ

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