Question

Which of the following is not correct with regard to

Q: Answer-Which of the following is not correct with regard to oligopoly?

In oligopoly, the cartel is usually cooperative. Because if the cartel members do not cooperate and cheat, the there would be no incentive to remain in the cartel, because i f all members cheated, the cartel would cease to earn monopoly profits.

oligopoly?

A In an oligopolistic market, the cartel is non-cooperative.

B Under Cournot model of oligopoly, firms choose quantities simultaneously and independently, and industry output determines price through demand

C The cartel price is determined by market demand curve at the level of output chosen by the cartel

D A cartel will choose to produce less output and charge a higher price than would be found in a perfectly competitive market

E The cartel's profit‐maximizing decision is the same as that of a monopolist

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Which of the following is not correct with regard to

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