Question

Which of the following is not correct with regard to 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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