If Firms in a Duopoly Can Successfully Collude

question 14

Multiple Choice

If firms in a duopoly can successfully collude

• A) each firm can earn an economic profit.
• B) the industry, that is, both firms taken together, can earn the maximum economic profit.
• C) the firms achieve a cooperative equilibrium.
• D) All of the above answers are true.

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Definitions:

Conscientious

A personality trait characterized by being diligent, careful, and thorough, often displaying a strong sense of duty and responsibility.

Motivation

The psychological forces that determine the direction of a person's behavior in an organization, a person's level of effort, and a person's level of persistence.

Professional Life

Aspects of a person's life pertaining to their career or occupation, focusing on work-related achievements and activities.

Holland Type

relates to a theory of careers and vocational choice based upon personality types, each associated with different careers.