What price and output will result

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Reference no: EM131389999

If firms in an oligopolistic industry successfully collude and form a cartel, what price and output will result?

a. the monopolistically competitive price and output

b. a price higher than the monopoly price and, because there is more than one firm in the industry, more output than the monopoly amount

c. the monopoly price and output

d. a price lower than the competitive price and, because there are only a few firms in the industry, less output than the competitive amount

e. the competitive price and output

Reference no: EM131389999

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