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

1) As a manager, one of your responsibilities is to avoid tacit collusion.
2) If a firm receives treble damages, they are being paid a monetary reward for reporting cartel activity.
3) All else equal, it is more profitable to produce a differentiated product rather than an identical product made by a rival firm.
4) As a manager of a firm that produces an identical product as your rival, it is economically profitable to compete on price.
5) As a manager in an oligopolistic market, it is critical to take into consideration your rivals' best responses to your decisions.

1) FALSE
2) TRUE
3) TRUE
4) FALSE
5) TRUE