If Joint Profits Are to Be Maximized in an Oligopolistic

Multiple Choice

If joint profits are to be maximized in an oligopolistic industry with a homogeneous product,the firms

A) can produce whatever output they want at the agreed-upon price.
B) need to determine the output each firm will produce.
C) must form a cartel in order to be legal.
D) have no individual incentive to cheat on the agreement.
E) None of the above - differentiated products are required for joint-profit maximization in oligopoly.