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Consider an oligopoly where firms sell differentiated goods and compete in prices. In this case the equilibrium prices charged by firms are too high relative

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Consider an oligopoly where firms sell differentiated goods and compete in prices. In this case the equilibrium prices charged by firms are too high relative to the collusive optimum price (the price that maximises joint profit). Is this true or false? Explain your answer by relating to the notion of externality

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