New Upcoming Legal Jobs Free Workshop March 11 at 5 PM. Register here

    Question

    When oligopolistic firms co-operate and work as cartel,

    then output produced is ______ than perfect competition and ______ to Monopoly
    A Less, less Correct Answer Incorrect Answer
    B Less, equal Correct Answer Incorrect Answer
    C Less, More Correct Answer Incorrect Answer
    D More, equal Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    When oligopolistic firms co-operate and work as cartel, then output produced is less than perfect competition and equal to Monopoly.

    Practice Next