In an Oligopoly,when One Firm Reduces Its Prices,how Do Other

question 28

Multiple Choice

In an oligopoly,when one firm reduces its prices,how do other sellers react?

• A) There is no reaction from other firms to change their prices.
• B) Other firms reduce their prices also, usually quite quickly.
• C) Other firms may reduce their prices, but usually gradually.
• D) Other firms are not usually aware that price has changed.
• E) There is a combined response from other firms to stabilize prices.

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