A) an empty threat if it is believed by the other firm.
B) a credible threat if it is not believed by the other firm.
C) always a credible threat whether or not it is believed by the other firm.
D) a credible threat if it is believed by the other firm.
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A) in oligopoly.
B) in monopolistic competition.
C) where product demand is inelastic.
D) in pure competition.
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A) producing goods that differ in terms of quality and design.
B) setting price and output collusively.
C) setting price and output independently.
D) producing virtually identical products.
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A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) legislated competition
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