Which of the following is most likely to be sold in an oligopoly market?

What's the firm's current contribution margin?

a. $15 b. $18 c. $3 d. $4

Answer the following questions true (T) or false (F)

1. A prisoner's dilemma leads to a noncooperative equilibrium. 2. A member of a cartel earns more profits by producing more than its quota and selling at a price higher than the cartel's price. 3. Collusion is common in oligopoly and monopolistically competitive industries.