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Use the Figure to Answer the Following Question(s)

Question 64

Multiple Choice

Use the figure to answer the following question(s) .
Figure 11-12 Use the figure to answer the following question(s) . Figure 11-12 -If the firms in this oligopolistic industry depicted in Figure 11-12 can collude effectively and restrict the entry of potential competitors, the price of their product will tend to be A) greater than P<sub>2</sub>. B) close to P<sub>2</sub>. C) approximately equal to P<sub>1</sub>. D) less than P<sub>1</sub>.
-If the firms in this oligopolistic industry depicted in Figure 11-12 can collude effectively and restrict the entry of potential competitors, the price of their product will tend to be


A) greater than P2.
B) close to P2.
C) approximately equal to P1.
D) less than P1.

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