The Graph Below Shows the Chamberlin Model

question 9

Multiple Choice

The graph below shows the Chamberlin model. The dd curve is based on the assumption that

• A)firms all follow each other when any one of them changes price.
• B)market demand is more elastic than the demand for any one firm.
• C)firms can gain market share by lowering their price below the price of the competition.
• D)firms will follow any price increases of their competitors.

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