question archive In an oligopoly with a collusive agreement, the total industry profits will be smallest when A

In an oligopoly with a collusive agreement, the total industry profits will be smallest when A

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In an oligopoly with a collusive agreement, the total industry profits will be smallest when

A. the firms act as a monopoly.

B. all firms comply with the agreement.

C. all firms cheat on the agreement.

D. one firm cheats on the agreement and the other firms do not cheat

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