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Refer to the Diagram

Question 224

Multiple Choice

Refer to the diagram. This firm's demand and marginal revenue curves are based on the assumption that A) the firm has no immediate rivals. B) rivals will match both a price increase and a price decrease. C) rivals will match a price increase but ignore a price decrease. D) rivals will ignore a price increase but match a price decrease. Refer to the diagram. This firm's demand and marginal revenue curves are based on the assumption that


A) the firm has no immediate rivals.
B) rivals will match both a price increase and a price decrease.
C) rivals will match a price increase but ignore a price decrease.
D) rivals will ignore a price increase but match a price decrease.

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