Question

In an oligopoly, the total output produced in the market is A. lower than the total output that would be produced if the market were a monopoly and lower than the total output that would be produced if the market were perfectly competitive. B. higher than the total output that would be produced if the market were a monopoly and higher than the total output that would be produced if the market were perfectly competitive. C. lower than the total output that would be produced if the market were a monopoly but higher than the total output that would be produced if the market were perfectly competitive. D. higher than the total output that would be produced if the market were a monopoly but lower than the total output that would be produced if the market were perfectly competitive.

Answer 1

D) Higher than the total output that would be produced if the market were a monopoly but lower than the total output that would be produced if the market were perfectly competitive.