Suppose an oligopolistic firm raises the price of its output. Demand f
Suppose an oligopolistic firm raises the price of its output. Demand for the firm’s output will be relatively price ________ if the other dominant firms in the market ________.
A) elastic; do not raise price
B) unit elastic; do not raise price
C) inelastic; also raise price
D) cannot be determined
ANSWER
A
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