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29 Oct 2020

In an oligopoly, if firms have the option to cooperate and merge or do not cooperate, which option will be the eventual outcome?

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Microeconomics
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Explain functioning of Monopolistic Competition and Oligopoly
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Paramjeet Chawla
Paramjeet ChawlaLv8
29 Oct 2020

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32) Suppose all of the firms in a perfectly competitive industry form a cartel and agree to restrict output, thereby raising the price of the product. Individual Firm A will gain the most from the existence of the cartel if A) all firms, including A, cooperate and restrict output. B) Firm A restricts output, while the other firms do not. C) all firms, except Firm A, cooperate and restrict output. D) no firms restrict output. E) all firms revert back to their competitive outputs.

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