If There Is a Collusive Agreement in a Duopoly to Maximize

question 125

Multiple Choice

If there is a collusive agreement in a duopoly to maximize profit, then the price will

• A) equal the marginal cost of production.
• B) equal the average total cost of production.
• C) be the same as the price set by a monopoly.
• D) be the same as the price set by a competitive industry.

---

Definitions:

Mislaid

Property that is placed somewhere intentionally and then forgotten by the owner, distinguishing it from lost or stolen property.

Lost

A state or condition in which something is unable to be found or has gone missing.

Discarded

Thrown away or disposed of as no longer useful or required after consideration.

Abandoned Property

Property that has been discarded by the owner, who has no intention to retain title or possession.