Answer
a. less than, more than
Work Step by Step
If an oligopoly does not cooperate and each firm chooses its own quantity, the industry will produce a quantity of output that is less than the competitive level and more than the monopoly level.
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 - Quick Check Multiple Choice - Page 367: 3
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