An Effective and Enforceable Collusion in a Duopoly Will Result

question 15

Multiple Choice

An effective and enforceable collusion in a duopoly will result in:

• A)a monopoly price and output in the market.
• B)a perfectly competitive outcome.
• C)an inefficient equilibrium.
• D)a large consumer surplus.

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Definitions:

Quantifier

A logical term that specifies the quantity of specimens in the domain of discourse that satisfy a conditional statement.

Atomic Open Sentence

An atomic open sentence is a type of logical statement that contains variables and is either true or false depending on the values of those variables.

Truth-functional

Pertaining to a logical relation where the truth value of a compound proposition is determined by the truth values of its components.

Atomic

Relating to the basic, indivisible components of matter.