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23-05-2023
Business

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An oligopolist faces a demand curve that is steeper at higher prices than at lower prices. Which of the following is most likely?
1) The firm competes with others in the Bertrand fashion.
2) Other firms match price reductions but do not match price changes.
3) The firm competes with others in the Cournot fashion.
4) Other firms match price increases but do not match price reductions.

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