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11 Aug 2018
10) In an oligopoly, when one firm reduces its prices, how do the other firms of the industry react? a) b) c) d) There is no reaction by any of the other firms. Others may reduce their prices too, but very gradually over time. Others tend to reduce theirs also, usually quite quickly. Others engage in a spiraling price war.
10) In an oligopoly, when one firm reduces its prices, how do the other firms of the industry react? a) b) c) d) There is no reaction by any of the other firms. Others may reduce their prices too, but very gradually over time. Others tend to reduce theirs also, usually quite quickly. Others engage in a spiraling price war.
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