If One Firm in an Oligopolistic Industry Cuts Prices,its Competitors

question 61

Multiple Choice

If one firm in an oligopolistic industry cuts prices,its competitors:

• A)will make profits.
• B)will also respond with similar price cuts.
• C)will correspondingly raise prices.
• D)will fill the gap by capturing market share.

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Definitions:

Monozygous

Pertains to monozygotic twins, twins resulting from a single fertilized egg that splits, resulting in two genetically identical individuals.

Dizygotic

Refers to twins that are fraternal, meaning they developed from two different eggs fertilized by two different sperm, resulting in genetically distinct siblings.

Monozygotic

Relating to twins who have developed from a single fertilized ovum, making them genetically identical.

Gamete-Specific

Refers to characteristics or factors that are unique to a particular type of gamete, such as sperm or ova, influencing fertilization and reproductive processes.