Answer
They would try to set a quantity and price that a monopoly in their position would.
Work Step by Step
They would make the most profit when they produce a very small quantity and charge a price greater than marginal cost.
Principles of Economics, 7th Edition
by Mankiw, N. Gregory
Published by
South-Western College
ISBN 10:
128516587X
ISBN 13:
978-1-28516-587-5
Chapter 17 - Part V - Oligopoly - Questions for Review - Page 366: 1
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