Use the Following to Answer Question

question 33

Multiple Choice

Use the following to answer question:
Figure: Monopoly Profits in Duopoly
-(Figure: Monopoly Profits in Duopoly) Use Figure: Monopoly Profits in Duopoly.The figure shows how an industry consisting of two firms that face identical demand curves (D₁) can collude to increase profits.The market demand curve is D_2. If the firms collude to share the market demand equally,then each firm will act as if its demand curve is given by:

• A)D₁.
• B)D₂.
• C)MR₁.
• D)2 × D₁.

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Definitions:

Systemic Discrimination

Discrimination that is ingrained in the policies, practices, and procedures of institutions, resulting in disadvantages to certain groups.

Natural Superiority

The belief in the inherent superiority of certain individuals, groups, or races over others, often without scientific basis.

Stereotype

A label that may have some basis in fact, but that has been grossly over-generalized and applied to a particular segment of the population or situation.

Overgeneralizations

Cognitive distortions where an individual applies a general rule too broadly, often leading to inaccurate conclusions or stereotypes.