|Price (P)||Quantity (Q)|
Suppose further that all three firms are selling their product for $60 and each has about one-third of the total market.
What is the amount of total revenue each firm receives, in dollars?
Each firm has less revenue.
Each firm has more revenue.
The price-dropper has more revenue and the others have less.
The price-dropper has less revenue and the others have more.
Raising to $70
Lowering to $50
Making no change (keeping price at $60)
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