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Assume that firms in an oligopoly are currently colluding to set price and output to maximize total industry profit. If the government forces the oligopolists to stop colluding, the price charged by the oligopolies will ________ and the total output produced will ________.
Size
A dimension that represents the magnitude of an object or its extent in space in one or more directions.
Shape
The external form or appearance of an object or figure, determined by its outline or surface.
Color
A characteristic of visual perception that comes from the light they emit or reflect, defined by qualities such as hue, saturation, and brightness.
Gate Control Theory
A theory proposing that pain signals passing through the nervous system can be regulated or blocked by gates in the spinal cord, influencing the perception of pain.
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