In Markets Characterised by Oligopoly

Multiple Choice

In markets characterised by oligopoly,

A) the oligopolists earn the highest profit when they cooperate and behave like a monopolist.
B) collusive agreements will always prevail.
C) collective profits are always lower with cartel arrangements than they are without cartel arrangements.
D) pursuit of self-interest by profit-maximising firms always maximises collective profits in the market.