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In the example with the gas stations, when one of the gas stations increases the price, it expects the other company to increase the price

In the example with the gas stations, when one of the gas stations increases the price, it expects the other company to increase the price as well. But what usually happens instead? Question 1 options: The other gas station increases the price. The other gas station increases the price and makes it even higher than the first gas station has. The other gas station does nothing; hence, all the prices are going back to the initial level. The gas stations go bankruptcy

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