Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 17 - Part V - Oligopoly - Questions for Review: 1

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.
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