If a Duopoly Has Reached the Monopoly Outcome and Only

question 187

Multiple Choice

If a duopoly has reached the monopoly outcome and only one firm increases its production,that firm's profit ________ and the other firm's profit ________.

• A) increases; increases
• B) increases; decreases
• C) decreases; increases
• D) decreases; decreases
• E) increases; does not change

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Definitions:

Organizational Skills

Abilities that allow an individual or group to plan, prioritize, and efficiently manage resources and tasks.

Business Friendship

A professional relationship built on mutual respect, trust, and common interests, often leading to long-term business cooperation.

Perceived Purchase Satisfaction

The level of contentment a customer feels regarding their decision to buy a product or service, based on their expectations and the product's performance.

Actual Product Performance

The real-life functionality and effectiveness of a product as experienced by the user, which can influence customer satisfaction and brand loyalty.