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Could you please help me answer these three multiple choice questions: Question 10 1 pts If a firm decides to set a price below its
Could you please help me answer these three multiple choice questions:
Question 10 1 pts If a firm decides to set a price below its profit maximising level in order to deter new entrants into the market, the firm is: O operating in a perfectly competitive market O facing a kinked demand curve O using a limit pricing strategy O using a predatory pricing strategyQuestion 14 1 pts It can be difficult for an oligopoly to maintain a cartel because: O it is difficult to enforce many cartel agreements O all of the options are true O many cartel members can improve their profit by individually cheating on the agreement O there are laws that prohibit competing firms from making collusive agreements Question 15 1 pts As the number of firms in an oligopoly grows larger, what happens to the quantity produced? (i) it approaches the socially optimal level (ii) it increases (iii) it decreases O (ii) and (iii) O (i) and (iii) O (ii) only O (i) and (ii)Step by Step Solution
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