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:
Milgram Experiment
A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.
Stanford University Prison Experiment
A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.
Generalization
Drawing a conclusion about a certain characteristic of a population based on a sample from it.
Logical Support
The provision of reasons or evidence to justify a claim or argument.
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