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Question 173

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Use the following to answer questions:
Figure: Demand 1 Use the following to answer questions: Figure: Demand 1 -(Figure: Demand 1) A successful cartel facing the market in this diagram would cause the industry price to: A) decrease from $8 to $4. B) increase from $4 to $8. C) increase from $7 to $8. D) increase from $4 to $7.
-(Figure: Demand 1) A successful cartel facing the market in this diagram would cause the industry price to:


A) decrease from $8 to $4.
B) increase from $4 to $8.
C) increase from $7 to $8.
D) increase from $4 to $7.

Correct Answer:

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