“The two conflicting tendencies that a firm has in an oligopolistic industry are the incentive to cheat to maximize joint profits and the incentive to raise prices. cheat and avoid collusion and the incentive to raise price to maximize the firm’s share of profits. increase output in order to minimize per-unit costs and the incentive to reduce price in order to maximize joint profit. cooperate to maximize joint profits and the incentive to cheat on the agreement in order to increase the firm’s share of the profit.”


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