The figure given below represents the total output and price produced in an oligopoly market characterized by a dominant firm and a fringe.SF represents the supply curve of the fringe, D is the market demand curve, DRES represents the residual demand curve of the dominant firm, MRRES represents the residual marginal revenue curve of the dominant firm, and MCD represents the marginal cost of the dominant firm.
-Refer to Figure .If the market demand curve D rotates outward (while its vertical intercept remains unchanged) , which of the following changes will be observed in the oligopoly market?
Definitions:
Classical Conditioning
A learning process in psychology where two stimuli are repeatedly paired together until an individual associates them with each other, leading to a change in behavior.
CS
An abbreviation often used in psychology and neuroscience for "Conditioned Stimulus," a component of classical conditioning.
US
In the context of classical conditioning, it stands for the Unconditioned Stimulus, which automatically triggers a response without any learning needed.
Conditioned Stimulus
A formerly neutral cue that, after being linked with an unconditioned stimulus, comes to evoke a conditioned response over time.
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