The quantity demanded for a duopolist's product is zero if ________.
A) it charges a lower price than its rival
B) it charges a higher price than its rival
C) it charges the same price as its rival
D) it can produce the product at a lower cost
Question 2
If ranchers in Texas fear a sharp drop in cattle prices next year, they will probably
A) bring less cattle to market this year.
B) bring more cattle to market this year.
C) keep supply unchanged now and bring more cattle to market next year.
D) keep supply unchanged now and bring less cattle to market next year.
E) do none of the above.
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