An oligopolistic price leader increases the price of its product. If all other firms follow the leader's example, the price leader will:

A. decrease its price.
B. maintain its new price.
C. increase its price.
D. increase its quantity of output.


Answer: B

Economics

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a. true b. false

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A market in which the entire demand for a good or service can be satisfied at the least cost by a single firm is a:

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Economics