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What will happen to one firm operating in an oligopoly when it raises its price and the other firms do not?If one firm operating in an oligopoly raises its price and other firms do not do so, the sales of the firm with the higher price will decline slightly. the egos of all the top executives will eventually lead to cooperation at that higher price. the sales of the firm that increased its price will decline sharply.
What is the perceived demand for a monopolistic competitor?The perceived demand curve for a monopolistically competitive firm is downward-sloping, which shows that it is a price maker and chooses a combination of price and quantity.
Which of the following represents a difference in the process by which a monopolistic competitor and a monopolist make their respective decision about quantity and price?Which of the following represents a difference in the process by which a monopolistic competitor and a monopolist make their respective decisions about quantity and price? equal to marginal cost, both in the short run and in the long run.
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