On the Above Graph,if the Oligopolist's MC Curve Shifts from MC₁

question 173

Multiple Choice

On the above graph,if the oligopolist's MC curve shifts from MC₁ to MC₂,the firm will charge:

• A) a higher price and total revenue will increase.
• B) the same price and sell more output;total revenue will increase.
• C) the same price and sell the same amount of output;total revenue will remain the same.
• D) a higher price and sell less output;it can't be determined whether total revenue will increase.

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Definitions:

Secondary

Pertaining to the second level or stage; often refers to activities, information, or products that are not the primary focus but nevertheless important.

Location Types

Various categories of places where businesses can operate, including urban, rural, industrial, and commercial areas.

Craft Store

A retail establishment that sells materials and supplies for art, hobbies, and handcrafting projects.

Artisans

Skilled craftworkers who make goods by hand, often with traditional methods and materials.